Benchmark indices surged in trade as the FBI cleared US Presidential nominee Hillary Clinton, of criminal charges in using her private email server.
This propelled global markets on hopes that it would benefit Hillary Clinton in the race for the White House.
Shares in Lupin was the star in trade and surged a huge 7 per cent, after the US FDA cleared the companies Goa plant. A majority of the company's revenues to the US come from the Goa plant.
Shares in PNB was another star performer in trade, after the bank's quarterly numbers beat estimates. Most PSU banking stocks rallied following the numbers from PNB.
Other stocks that gained in trade were aluminium major Hindalco, ITC and ICICI Bank. Software stocks, which have seen tremendous selling pressure in the last few weeks, ended the day lower with TCS and Wipro falling, despite the market sentiment being buoyant.
Shares in Punjab National Bank subsidiary, PNB Housing Finance made a stellar debut on the bourses and closed the day with a staggering gains of 15 per cent over the IPO price.
Shares in HCC rallied a huge 4 per cent after reports that the RBI's Overseeing Committee has approved the first S4A scheme for HCC.
Meanwhile, the rupee was trading steady at 66.73 to the US dollar.