Stock Market Close: Sensex Rises 716 pts, Nifty Above 24,800

Markets saw sharp late losses, with Sensex dropping 556 points to 81,160 and Nifty falling 166 points to 24,891, led by Realty and Auto declines. However, following RBI policy, Nifty rebounded above 24,800, supported by strong derivative activity and sector gains in banks, pharma, and IT. Mid- and small-caps also showed gains.