Benchmark indices surged in trade with the Sensex and the Nifty gaining 2 per cent, as investors remained confident that border tensions between China and India would soon ease.
The Sensex ended the day with solid gains of nearly 715 points, while the Nifty ended the day higher by more than 210 points. Shares in Reliance Industries hit another record high in trade and ended with gains of nearly 2.5 per cent.
However, it was the two heavyweight stocks including HDFC Bank and HDFC, which propelled the indices with gains of nearly 4 per cent 3 per cent each.
Fortis Healthacare saw its share price lose nearly 1 per cent after the company reported a net loss of Rs 41.24 crore for the quarter ended March 31, 2020.
Pidilite Industries share price fell more than 2 per cent, after the company reported a 33.92 per cent decline in its consolidated net profit to Rs 156.51 crore for the fourth quarter ended March 31.
Bajaj Finserv, Coal India, Zee Entertainment, Bajaj Finance and Vedanta were the top gainers from the Nifty.
Future group companies stocks like Future Retail, Future Consumer and Future Lifestyle Fashions were locked at the upper end of the circuit filter of 5%, after Bloomberg news reports of stake in some of the Future Group companies by Reliance.