NEW DELHI: The markets finally factored in the AAP clean sweep and after a negative start, the S&P BSE Sensex bounced back from a support of 28,000, rallying by as much as 406 points in trade on Tuesday. It was backed by strong buying in metal, bank and auto stocks. The sensex was bit wobbly on Monday, dropping by nearly 500 points over exit poll results that pointed to an AAP win in Delhi. As results trickled in on Tuesday, underlining a clean sweep by the Arvind Kejriwal-led party, the sensex recouped to the eventual outcome, managing to recover by nearly 400 points."Perhaps the markets over-reacted to exit poll numbers and this sentimental reaction is over with the actual results virtually out. Really speaking, the major event which will influence the reforms process is the Union Budget, which is scheduled for February 28," said Jayant Manglik, President - Retail Distribution, Religare Securities Limited."The central government has announced several reforms in last few months but their implementation and timely completion would largely depend upon budgetary support," he adds.At 11:30 a.m., the 30-share index was at 28,569, up 342 points or 1.2 per cent. It touched a high of 28,633.72 and a low of 28,044.49 in early trade.The Nifty was at 8,622.65 up 96 points or 1.13 per cent. It touched a high of 8,646.25 and a low of 8,470.50 in early trade.According to experts, fluctuation in the stock market is currently due to the Delhi results and is more short term in nature, while the broader trend still remains on the track. And, market participants should focus on the prevailing earning season and upcoming Budget for further cues, they say.GDP numbers released post market hours on Monday also boosted sentiment. The economy is poised to grow 7.4% in the current year, bettering 6.9% recorded last year, the statistics office said."The government at the center has been on its track to push the economy on to a sustainable growth path. Various measures taken by the government on the reform front, be it deregulation of the diesel prices, auctioning of the coal blocks, and passing of the regulation on land acquisition bill or FDI in insurance sector through ordinance, all are indicating towards the government endeavor for reviving the economic growth and improve the fiscal position of the country," says D K Aggarwal, CMD, SMC Investments and Advisors Ltd."If there is a correction in the stock market post poll outcome would be short term, and thus for the long term investors the level of 8400 to 8500 is a good buying opportunity, as the fundamentals of the country is very strong and the future outlook is robust for the economy," he adds.Tracking the momentum, the 50-share Nifty index also managed to bounce back to reclaim its crucial psychological level of 8600, supported by gains in banks, autos, and metal stocks.The S&P BSE Midcap Index was up 1.34 per cent and the S&P BSE Smallcap Index was 1.19 per cent higher.Among the sectoral indices, the S&P BSE Metal Index gained 2 per cent, the S&P BSE Bankex was 2.56 per cent up and the S&P BSE Auto Index advanced 1.89 per cent.Hindalco (up 3.7 per cent), Tata Motors (up 3.2 per cent), State Bank of India (up 3.3 per cent), ICICI Bank (up 3.6 per cent) and BHEL (up 2.4 per cent) were among the major Sensex gainers.Sun Pharma (down 1.1 per cent), TCS (0.64 down per cent), Wipro (down 1.3 per cent), Tata Power (down 0.02 per cent) and Bharti Airtel (down 0.20 per cent) were the major index losers.