Market benchmarks made a winning start to the week on Monday as investors snapped up banking, consumption and energy stocks despite a grim situation on the Covid-19 front.
A rebounding rupee, which climbed 28 paise against the US dollar, added to the momentum, traders said.
The 30-share BSE Sensex opened on the front foot and remained in the positive territory throughout the session, closing at 48,386.51 - up 508.06 points or 1.06 per cent.
On similar lines, the broader NSE Nifty jumped 143.65 points or 1 per cent to finish at 14,485.
Axis Bank was the top performer in the Sensex pack, rallying 4.40 per cent. ICICI Bank spurted 3.63 per cent after the company reported a nearly four-fold jump in March quarter consolidated profit over the weekend.
UltraTech Cement, SBI, HUL, PowerGrid, Bajaj Auto and Reliance Industries were among the other prominent gainers.
On the other hand, HCL Tech, HDFC Bank, Maruti, Sun Pharma, TCS, NTPC and ITC were the laggards, dropping up to 2.87 per cent.