Indian equity markets ended higher for the second straight day, led by a swift recovery in the banking index towards the final minutes of trade.

The S&P BSE Sensex ended 0.5% higher at 39,086 while the NSE Nifty 05 index ended 0.56% higher at 11,535. Both indices traded in a narrow range throughout the session.

Among sectoral indices, the Nifty bank recovered 400 points from the lowest point of the day to end 0.3% higher. The index was trading with losses of over 1% at one point.

Among the gainers, the Media index was the outperformer, ending 3.5% higher, led by gains in Zee Entertainment.

The Nifty I.T. and Nifty Metal indices ended with gains of over 1.5% each, with all constituents of the I.T. index advancing in today's session.

PSU Bank index too recovered from the lowest point of the day to end 0.2% lower. The index was down close to 2% during the day.

Broader markets outperformed in today's session. The midcap and smallcap index ended with gains of over 1.5% each.

The India Volatlity Index ended 3.5% lower at 21.03.

Market breadth remained in favour of the gainers. 1,210 stocks on the NSE ended with gains while 616 declined.