Stocks rally after trading resumes: Sensex rises 2.1% to close at 50,782

Nifty gains 2%, ends at 14,982

The benchmark indices rallied on Wednesday after a technical glitch halted trading for several hours on the National Stock Exchange (NSE) and forced the exchanges to extend trading hours.

The Sensex ended 1,030 points, or 2.07 per cent, higher at 50,781, while the Nifty50 index gained 274 points, or 1.86 per cent, to end the session at 14,982. This is the Sensex’s largest gain since February 2. The 30-share index had dropped to an intra-day low of 49,649 due to a sharp decline in blue-chip stocks such as TCS and ITC.

Market players attributed the surge in the market to short-covering and