Indian equity benchmark indices ended higher Tuesday led by strong gains in metals and banking stocks amid positive global cues. The Sensex jumped 403.19 points, or 0.73 percent, to 55,958.98, while the Nifty ended 128.15 points, or 0.78 percent, higher at 16,624.60.

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Broader markets outperformed the headline indices as the midcap and smallcap indices gained over 1 percent each.

Among sectors, the Nifty Metal index rallied the most, followed by Nifty Media, Nifty PSU Bank, Nifty Realty, Nifty Pharma and Nifty Private Bank, while FMCG and IT indices ended in the red. Here are key stocks that moved the most on August 24

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Sensex jumps 403 points, Nifty ends above 16,600 led by metals, banks; smallcaps outperform

"Markets extended the up move and gained over half a percent, tracking firm global cues. The recent rebound lacks decisiveness and continuous participation by the banking pack is critical for Nifty to regain momentum and surpass the 16,700 zone decisively," said Ajit Mishra, VP - Research, Religare Broking.

He advises participants to continue with a selective approach in midcap and smallcap space and avoid jumping into a trade only based on the price move.

Here are key stocks that moved the most in today's trading session:

Bajaj Finserv

Bajaj Finserv shares rallied 7.91 percent to close at Rs 16,475.25 apiece after the company received the nod from the regulator for setting up an asset management company. The stock touched a 52-week high of Rs 16,590.15 intraday.

Bajaj Finance

Bajaj Finance shares surged 3.33 and closed at Rs 6,978.75 taking the market capitalisation of the non-banking financial company to the Rs 4.21 lakh crore mark. With that, Bajaj Finance surpassed State Bank of India (SBI), the country's largest lender by assets.

Having switched places with SBI in terms of market value, Bajaj Finance is now the eighth-most valuable company in the country.

Zomato

Zomato share price fell another 1.46 percent to end at Rs 125.15 on the BSE, extending losses from the previous session. The selling pressure in Zomato shares came after the lock-in period for anchor investors ended on August 24. Anchor investors are institutional investors such as mutual funds or sovereign wealth funds that buy a substantial number of shares in an IPO-bound company.

Chemplast Sanmar

The equity shares of Chemplast Sanmar ended at Rs 534.90 apiece on the BSE, down 1.13 percent from its issue price of 541.00. The stock, however, was 1.89 percent higher than its listing price of Rs 525.00.

On the National Stock Exchange, the shares were listed at a premium of 1.66 percent at Rs 550.00. It closed 2.55 percent lower than the listing price at Rs 536.00 on NSE.

Aptus Value Housing Finance

Aptus Value Housing Finance shares ended at Rs 346.50 on BSE, higher by 5.02 percent against the listing price of Rs 363.05. It was down by 1.84 that the issue price of Rs 353.

GAIL India

Shares of GAIL India rallied 3.23 percent to close at Rs 145.30 after global brokerage firm Macquarie raised the target price on the stock and maintained its Outperform rating. The brokerage house has set a new target of Rs 205 on the stock from Rs 185 earlier.

It has raised the target assuming 8x EV-EBITDA for transmission business and B2B gas marketing and factors in 6x EV-EBITDA for petchem and LPG, 20 percent corporate discount, it said.

Vodafone Idea

The shares of Vodafone Idea (Vi) ended 4 percent higher at Rs 6.24 apiece, as investors overlooked data from the telecom regulator that showed the private sector telecom operator continued to lose subscribers in June.

Nucleus Software Exports

Nucleus Software Exports share price gained 3.59 percent to Rs 543.65 after it entered into an agreement to provide its FinnOne Neo digital solution to power South Indian Bank’s retail lending landscape.

Nucleus Software will empower South Indian Bank by providing the best in class digital solution offering to revamp the bank’s retail lending, the company said in a release.