Benchmark indices ended the day higher, led by solid gains in the stock of Tata Consultancy Services, after the company announced that the board of directors would consider a buyback of shares on Oct 7.
Global markets were extremely strong after reports that US President Donald Trump's health was fast improving. The US President had been infected by coronavirus.
The Sensex closed the day higher by 277 points, while the Nifty ended the day higher by 86 points. Shares in Hatsun Agro jumped as much as 7 per cent on the possibility of declaration of a bonus shares. The board of the company is likely to meet on Oct 19, 2020 to consider the same.
Banking stocks ended the day mixed with ICICI Bank and HDFC Bank among the gainers, while State Bank of India lost ground.
Nifty stocks that ended the day weak were Shree Cements, Bajaj Finser and Gail. Among the top performing stocks from the Midcap pack was PI Industries which jumped more than 4 per cent in trade.
Reliance Industries too ended the day weak, despite reports of stake pick-up in Reliance Retail Ventures.
Meanwhile, most Asian markets closed with good gains of more than 1 per cent, while European markets too were trading with good gains.