Benchmark indices ended the day higher led by solid gains in banking stocks, after the US Dow Jones surged with banking stocks in the US being star performers.
The Sensex and the Nifty surged in trade, as a risk-on rally was back, as investors across the globe, digested a Trump Presidency in the US.
Shares in Tata Steel was the top gainer after reports that the company may be planning to close down the deficit-hit pension fund at the heart of its UK steel crisis.
PSU Banking shares had a solid day in trade, with individual stocks led by Punjab National Bank surging a huge 11 per cent in trade. Other PSU Banks, which gained between 5 and 10 per cent were Syndicate Bank and Union Bank of India.
Among the non index stocks, Caplin Point gained after the company's Q2 net profit was up 60 percent at Rs 22.6 crore versus Rs 14.1 crore.
Metal stocks also had a fantastic day in trade with Hindalco, Coal India and Vedanta among the gainers. Meanwhile, European markets which rallied on Wednesday, saw a further rally in trade today. The German DAX and the French CAC, both gained about one per cent in trade.