Equity benchmark indices Sensex and Nifty surged nearly 4 percent on Wednesday, following an impressive rally in global markets and a drop in crude oil prices after the US and Iran announced a two-week ceasefire.
The RBI decision to keep the policy repo rate unchanged, heavy buying across all sectors and a strengthening rupee against the US dollar also improved investor sentiment, traders said.
Rallying for the fifth day in a row, the 30-share BSE Sensex jumped 2,946.32 points or 3.95 percent to settle at 77,562.90, registering its best trading day in five years.
During the session, it surged 3,018.96 points or 4 percent to 77,635.54.
A total of 3,859 stocks advanced, while 537 declined and 101 remained unchanged on the BSE.
The 50-share NSE Nifty soared 873.70 points or 3.78 percent to end at 23,997.35, the highest single-day rally in 11 months.
It rallied 901.5 points or 3.89 percent to 24,025.15 during intra-day trade.
From the Sensex pack, InterGlobe Aviation jumped the most by 8.22 per cent. Larsen & Toubro, Bajaj Finance, Mahindra & Mahindra, Axis Bank and Maruti were also among the prominent gainers.
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