Mumbai: Driven by the Assembly poll results, the Bombay Stock Exchange index Sensex on Friday gained 195 points up to close at 18, 531.

Brokers said investors welcomed assembly results in three of the four states which showed support for UPA government's alliance partners, and picked up stocks at lower levels, indicating that economic reforms may pick up pace in the country in the coming months.

The 30-share barometer which had lost 249 points on Thursday, bounced back 195.49 points to close at 18,531.28.

Brokers said trading sentiments improved after results showed that Congress ally TMC has finally ended the 3-decade rule of Communists in West Bengal elections.

They said investors bought fundamentally strong stocks, which were available at attractive prices after the recent market dips,especially in FMCG, metals and healthcare sectors.

Similarly, the broad-based National Stock Exchange index Nifty rose 58.60 points to 5,544.75. It touched 5,605 points level during the session.

The metals sector was the second, rising 1.48 per cent to 15,404.23, as Hindalco Industries, a leading aluminium producer, gained 1.54 per cent to Rs 198.30, recovering from Thursday's steepest drop in three months.