The Nifty rose for the fifth consecutive session even as the volatility index inched up on Thursday, while the Sensex also made gains of over 480 points.At close on Thursday, Nifty was up 167.95 points, or 0.75 per cent, at 22,570.35, while the Sensex was at 74,339.44, up 486.50 points, or 0.66 per cent.