BSE Sensex and Nifty50, the Indian equity benchmark indices, rallied strongly in trade on Thursday. While BSE Sensex was above 79,700, Nifty50 moved above 24,100.

At the close of trading, the Sensex was down by 720.60 points, or 0.90 per cent, at 79,223.11, and the Nifty dropped 183.90 points, or 0.76 per cent, to end at 24,004.75

Indian stock market benchmarks, Sensex and Nifty 50, faced significant losses on January 3 due to profit booking and a strengthening US dollar. The Sensex dropped over 700 points, while the Nifty 50 fell 200 points amid selling pressure across several sectors.