Benchmark indices rallied in trade after solid overnight closings across the US and hopes of a delay in US Federal Interest rate hike boosted sentiments.
The Sensex ended the day with gains of 516 points, while the Nifty rallied 157 points in trade. Today was the last day of expiry for the August F&O series. Leading the set of gainers from the Nifty and the Sensex was HDFC, which saw a solid rally of 7%.
Other winners were the recently battered stocks like Vedanta and Cairn India. Cipla, ONGC, Reliance and Dr Reddy's were the other gainers in trade. Bajaj Auto and Bhel were the few stocks from the Nifty that lost ground.
Mid cap stocks also saw solid buying interest with JSW Energy and Britannia among the top gainers.
Bharti Airtel ended the day sharply higher after reports that the company acquired wireless broadband firm Augere's India operations.
Shares in Sun TV also closed the day higher after the company announced a multi-year deal with video-on-demand service firm HOOQ.
Meanwhile, the rupee was trading with gains and was last seen recovering and trading above 66 at 65.97 to the dollar.