The Sensex rallied 504 points while the Nifty reclaimed the 11,800-level on Tuesday, propped up by banking and finance counters, as global markets marched higher on US election day.
Encouraging Q2 results and foreign capital inflows added to the buying momentum in the domestic markets, traders said.
Rising for the second straight session, the 30-share BSE Sensex ended 503.55 points or 1.27 per cent higher at 40,261.13. Similarly, the broader NSE Nifty jumped 144.35 points or 1.24 per cent to 11,813.50.
ICICI Bank was the top gainer in the Sensex pack, soaring 6.51 per cent, followed by SBI, HDFC, PowerGrid, Sun Pharma, IndusInd Bank, Titan, Bajaj Auto, HDFC Bank and Axis Bank.
On the other hand, NTPC, Reliance Industries, Nestle India, HCL Tech, Infosys and HUL were among the laggards, shedding up to 3.75 per cent.Global bourses followed Wall Street higher as investors wagered on fresh US stimulus immediately after the elections.Bourses in Shanghai, Hong Kong, Seoul, and Tokyo ended with significant gains.
Stock exchanges in Europe were also trading on a positive note in early deals.