Closing Bell: Sensex ends 190 pts higher, Nifty around 10,550

After witnessing volatility through the day, the Sensex on Tuesday closed after trading up 190.29 points at 35150.01, while the Nifty soared 60.70 points at 10549.20.

After witnessing a sharp fall of 482.68 points in the opening trade, the Sensex gained positivity and advanced in total of 1623 shares, against a decline of 771 shares, while 139 shares were unchanged.

Amongst sectors, pharmaceuticals, PSU banks, consumption, IT and automobiles, among others, were big gainers.

On the other hand, shares such as Yes Bank and Sun Pharma were the top gainers, while HDFC Bank, Bharti Airtel, HPCL and IOC lost on charts.

The plunge in the market comes on a day when the ruling BJP's performance in the Assembly elections painted a dismal picture for the party.

Election trends during the market closing signaled chances of government formation for Congress in the three major states that went to polls- Madhya Pradesh, Rajasthan and Chhattisgarh.

Earlier on Monday, RBI Governor Urjit Patel stepped down just ahead of the scheduled meeting of the RBI board on December 14th to consider proposals like RBI governance and providing liquidity for Non Banking Financial Companies (NBFC's).

The central bank chief announced step owing to some personal reasons.

"I have decided to step down from my current position, effective immediately," he said in a statement.

"It has been my privilege and honor to serve in the Reserve Bank of India in various capacities over the years," he added.