Markets closed on a high with the benchmark indices gaining over 2% each as Rupee recovered from an all time low. Also, the gains in European markets coupled with upbeat reading on Chinese manufacturing data aided the positive sentiment.

At close, the Sensex was up 407 points or 2.3% at 18,313 and the Nifty advanced 106 points or 2%, to close above the psychological levels of 5,400 at 5,408.

In the broader markets, the mid and smallcap indices gained 0.6-0.7%, underperforming the BSE benchmark index, which surged over 2%.