New Delhi, Dec. 12 -- Buoyed by the Fed rate cut, strong buying activity from lower price levels clearly signals an encouraging revival toward the upside. Although resistance persists at higher levels, the market's immediate downward pressure has eased.

The Sensex climbed 400.62 points (0.47%) to close at 84,791.90, after swinging between highs and lows during a volatile derivatives expiry session. Similarly, the Nifty50 advanced 136.55 points (0.53%) to settle at 25,894.55, ending near its intraday peak as investors cheered the U.S. Federal Reserve's 25-basis-point rate cut, which boosted global risk appetite.

Sectoral indices across the board finished in the green, led by auto, pharma, PSU banks, private banks, metals, and realty, eac...