Benchmark indices surged in trade on Dovish Fed comments which sparked a rally across Asian markets. The Sensex was trading with gains of 216 points, while the Nifty rallied 71 points in trade.
ICICI Bank once again led the list of gainers surging another 3 per cent in trade. The stock has seen a spectacular rally in the last 3-days.
Oil exploration companies also saw a spectacular rise in their stock prices with ONGC and Cairn India both among the gainers in trade.
Commodity stocks also had a good session in trade with Vedanta and Tata Steel seeing a good rally, following a revival in commodity prices.
Smaller private sector banks were having a good session in trade with Karnataka Bank and Federal Bank, both among the gainers.
Midcap stocks were also having a good session in trade with the index up near 1 per cent. Leading the set of gainers were Jindal Steel.
Pharma stocks were once again the only Nifty stocks to see a weakness in trade. Sun Pharma, Lupin Labs and Dr Reddy's were among the losers in trade.
Meanwhile, most Asian markets were trading higher leading following the US Fed meet.