Union Finance Minister Arun Jaitley (l) listens to Attorney General Mukul Rohatgi during the inauguration of 'Global Conference on National Initiative towards Strengthening Arbitration and Enforcement in India' in New Delhi on Friday. Pic/PTI

A sharp 520 points rally on Tuesday fuelled by short covering, enabled the markets to pull ahead and close in positive territory. The BSESENSEX gained 403.58 points or 1.46 per cent to close at 28,077.18 points while NIFTY gained 109.65 points or 1.28 per cent to close at 8,693.05 points. The broader indices saw the BSE100, BSE200 and BSE500 gain 1.39 per cent, 1.28 per cent and 1.32 per cent respectively. BSEMIDCAP gained 1.36 per cent and BSESMALLCAP was up 1.94 per cent.