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The BSE benchmark Sensex surged by 1031.43 points or 1.78% to reach 58,991.52, while the NSE Nifty50 rose by 279.05 points or 1.63% to close at 17,353.10.
At the beginning of the trading session, the Sensex jumped by 662.32 points or 1.14% to 58,622.41, while the NSE Nifty50 climbed 183.65 points or 1.08% to 17,264.35.
The broader markets also witnessed a rally, with Nifty 100 gaining 1.58%, Nifty 200 rising by 1.49%, and Nifty 500 surging by 1.48%. Additionally, Nifty Smallcap 100 and Nifty Smallcap 250 gained 1.61% and 1.54%, respectively.
India Vix fell by 5.08%.
All the sectoral indices at the NSE ended in the positive territory. IT stocks saw the biggest jump at 2.45%, followed by private bank stocks at 1.92%, and Nifty Bank at 1.75%.
Reliance Industries led the rally today with a surge of 4.29%, followed by Nestle India at 3.34%, and Infosys at 3.19%. ICICI Bank, Tata Motors, TCS, HCLTech, and Tech Mahindra were also among the top-performing stocks today.
On the other hand, Apollo Hospitals, Sun Pharma, Adani Ports, Bajaj Finance, and Asian Paints were the worst-performing stocks of the day.