Sensex overcomes early losses, stages year's 2nd biggest rally

HDFC and Wipro shone among the Sensex stocks as the benchmark index ended sharply higher by 475 points at 12,158.03, the year's second-biggest rally, after shrugging off early losses at the Bombay Stock Exchange.

Although uncertainty over government formation after the Lok Sabha results continued to weigh on the domestic bourses at the initial stages, a rally in key blue-chip counters helped the Sensex to make good its early losses on renewed buying by foreign funds.