Market Wrap: Sensex, Nifty break losing run to end higher; key factors behind relief rally

Driven by gains in HDFC Bank and Mahindra and Mahindra, Indian benchmark indices Sensex and Nifty closed higher, experiencing a short-term relief rally. Meanwhile, China's removal of export tax rebates on key commodities from December 1st impacted the Indian commodity market, causing the Nifty Metal index to close lower despite intraday gains.