Sensex closes 1.62 percent up

The sensitive index (Sensex) of the 30-scrip Bombay Stock Exchange (BSE), which opened at 16,947.46 points against Monday's close at 16,926.22 points, closed at 17,199.76 points (provisional), up 273.54 points or 1.62 percent.

Around the same time, at the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty shut shop at 5,121.9 points against its previous close at 5,032.7 points, reflecting a gain of 1.77 percent.

Broader market indices were also in the green, with the BSE midcap index up 1.76 percent and the BSE small cap index ruling 2.1 percent higher.

Major global bourses too saw significant gains a day after Dubai World tried to allay fears of a credit default by saying only some subsidiaries were in financial trouble and that it would expedite the process to restructure the $26 billion owed by these entities.