Equity benchmark indices rebounded on Thursday, with Nifty hitting its fresh all-time high and Sensex surging more than 500 points as investors went on a buying spree in IT, automobile and technology stocks.

After starting off on a volatile note, the equity market staged a recovery in the second half of the day, especially after 2.30 pm as the 30-share benchmark Sensex soared 535.15 points or 0.74 per cent to close at 73,158.24 points.

As many as 22 Sensex constituents closed in the positive territory and the index touched an intra-day high of 73,256.39 points.

The broader Nifty climbed 162.40 points or 0.74 per cent to hit its highest ever closing level of 22,217.45 points.

During the intra-day trade, the index touched the peak of 22,252.50 points and 25 Nifty constituents ended the session with gains.

“The domestic market staged a recovery from the day’s low, buoyed by positive PMI data from the Eurozone and an impressive earnings report from US tech stocks.