The 30-share BSE Sensex advanced 975.62 points or 1.97 per cent to finish at 50,540.48. This was the benchmark's biggest single-day jump since March 30 this year. Similarly, the broader NSE Nifty soared 269.25 points or 1.81 percent to close at 15,175.30.
All BSE sectoral indices ended with gains, led by bankex, finance, telecom and power which surged up to 3.73 percent.
HDFC Bank was the top gainer in the Sensex pack, rallying 4.48 percent, followed by SBI which zoomed 4.30 percent after posting solid quarterly earnings.
Only two Sensex stocks closed lower -- Dr Reddy’s and PowerGrid, slipping up to 0.37 percent.
HDFC Bank: Top winner of the Sensex pack. It touched an intra day high of Rs 1501 before closing at Rs 1497, up 64.15 points or 4.48 percent.
SBIN: The stock touched an intra day high of Rs 404.40 before closing at 401.10, up 16.55 points or 4.30 percent.
IndusInd Bank: The stock touched an intra day high of Rs 1020 before closing at Rs 1016.25, up 40.75 points or 4.18 percent.
ICICI Bank: The stock touched an intra day high of Rs 644 before closing at Rs 642.45, up 23.90 points or 3.86 percent.
Axis Bank: The stock touched an intra day high of Rs 733.40 before closing at Rs 730.70, up 24.80 points or 3.51 percent.
Dr Reddy: Top loser in Sensex pack. The stock slipped to an intra day low of Rs 5195.50 before closing at Rs 5216.75, down 19.55 point s or 0.37 percent.
Power Grid: The stock touched at intra day low of Rs 225.90 before closing at Rs 228.10 or 0.80 points points down or 0.35 percent.
State Bank of India: The top gainer in Nifty40. The stock touched an intra-day high of Rs 423 per piece before closing at Rs 404, up 19.45 points up or 5.06 percent.
HDFC Bank: The stock touched an intraday high of Rs 1,576.05 before closing at Rs 1,501.30, up 68.50 points or 4.78 percent.
IndusInd Bank: The stock touched intra-day high of Rs 1,073.05 to close at Rs 1,014.40, up 38.90 points or 3.99 percent..
ICICI Bank: It touched intra-day high of Rs 680.45 to close at Rs 642.80, up 24.20 points or 3.91 percent.
Axis Bank: It touched an intra-day high of Rs 776.45 to close at Rs 732.15, up 26.25 points or 3.72 percent up..
Grasim Industries: Top loser in the Nifty50. It touched an intra-day low of Rs 1,237.75 to close at Rs 1,370 per share, down 5.25 points or 0.38 percent.
PowerGrid: It touched an intra-day low of Rs 206.10 to close at Rs 228.25 per share, down 0.70 points or 0.31 percent.
IndianOil: It touched an intra-day low of Rs 94.25 per share to close at Rs 104.40, down 0.30 points or 0.29 percent.
Eicher Motors: The stock touched an intra-day low of Rs 2,277.55 per share to close Rs 2,524, down 6.60 points or 0.26 percent.
Dr Reddy’s: The stock touched intra-day low of Rs 4,712.70 per share to close Rs 5,222.80, down 13.50 points or 0.26 percent.