At close, the Sensex was up 388.76 points or 0.70% at 56,247.28, and the Nifty was up 135.50 points or 0.81% at 16,793.90. About 2071 shares have advanced, 1290 shares declined, and 142 shares are unchanged. Hindalco Industries, Tata Steel, Power Grid Corporation, JSW Steel and BPCL were among gainers on the Nifty, while losers included HDFC Life, Dr Reddy's Labs, M&M, Axis Bank and HDFC Bank.