The Sensex closed 1,233.25 points, or 1.66 per cent, higher at 75,692.78 on Monday, and the Nifty gained 387.70 points, or 1.68 per cent, to settle at 23,440.80 as Reliance Industries led a broad rally after its September quarter earnings.
The Sensex opened at 75,178.24 and touched an intraday high of 75,692.78 by the close; the Nifty opened at 23,222.30 and also finished at its high for the session.
Reliance Industries was the biggest contributor to the index. The company reported a 40.6 per cent rise in consolidated net profit for the September quarter, with refining and petrochemical margins improving and steady growth at Jio.
Brent crude eased to around $110 a barrel from a six-month high of $118 on Friday, after reports of talks involving Iranian and Qatari officials on ending the West Asia conflict, and US bond yields eased.
Foreign investors bought Indian equities worth about Rs 3,599 crore on October 30 on provisional figures, extending a buying streak that dealers said continued into Monday.
The breadth was broad, with oil and gas, metals, autos and banking stocks among the gainers, while pharmaceuticals lagged.