Indian equity market indices surged in late trades & ended with the highest closing of last 16 months. The Sensex ended at 28,343 with the hike of 440 points and the Nifty 50 gained 137 points and closed at 8,744. In BSE Sectors, Smallcap and Midcap indices have gained around 1% each. BSE Auto sector went up by 390 points (1.80%) and Bank Nifty hiked up by 314 points (1.64%). BSE500 index has hiked to the lifetime high at 11,795 and the Nifty Midcap index also ended at a record closing high.