The 30-share BSE Sensex rallied 500.05 points to 54,752.58. The broader NSE Nifty gained 159.2 points to 16,329.35. From the Sensex pack, IndusInd Bank, Bajaj Finserv, HCL Technologies, Tech Mahindra, Infosys, Wipro and Bajaj Finance were the prominent gainers in early trade.