Equity benchmark Sensex rallied over 400 points in early trade on Thursday, tracking gains in index majors HDFC Bank, Infosys and ICICI Bank amid a positive trend in global markets. The 30-share BSE index was trading 444.17 points or 0.85 per cent higher at 52,642.68 in initial deals, while the broader NSE Nifty surged 129.15 points or 0.83 per cent to 15,761.25. Bajaj Finance was the top gainer in the Sensex pack, rising over 3 per cent, followed by Tata Steel, HDFC Bank, HUL, ICICI Bank and Infosys. On the other hand, Asian Paints, PowerGrid, Bajaj Auto and Dr Reddy's were among the laggards.

In the previous session on Tuesday, Sensex ended 354.89 points or 0.68 per cent lower at 52,198.51, while the broader NSE Nifty fell 120.30 points or 0.76 per cent to 15,632.10. Stock markets were closed on Wednesday on account of 'Bakri Id'. Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 2,834.96 crore on Tuesday, as per provisional exchange data. According to Binod Modi Head-Strategy at Reliance Securities, domestic equities are likely to see some amount of recovery during the day.