The benchmark indices including the Nifty and Sensex added 1 percent each. Nifty spiked 113 points to 11,145 while the Sensex rallied 371 points to 37,699.
Nifty Midcap50 Index gained over 1.5 percent led by DHFL, M&M Financial Services, PFC, Ramco Cements, Balkrishna Industries, Century Textiles, Cholamandalam Investments, Tata Chemicals and Voltas among others.
Banking stocks are also buzzing, the top gainers include RBL Bank which jumped over 7 percent followed by Federal Bank, IDFC First Bank, HDFC Bank, ICICI Bank and Kotak Mahindra Bank.
The S&P BSE Capital Goods index is up over a percent, the top gainers being Suzlon Energy, Lakshmi Machine Works, BEML, GE T&D, Siemens and Sadbhav Engineering.
From the infra space, the top gainers are Bharti Infratel, Engineers India, Larsen & Toubro, IRB Infra, Reliance Infra and Vodafone Idea.
Nifty Realty gained a percent led by Indiabulls Real Estate which spiked 6 percent followed by DLF, Oberoi Realty, Prestige Estates and Godrej Properties.
India VIX is down 0.44 percent and is trading at 16.02.
The most active stocks are Indiabulls Housing Finance, Reliance Industries, HDFC, YES Bank and HDFC Bank.
Pidilite Industries and Asian Paints have hit new 52-week high on BSE.
147 stocks have hit 52-week low on BSE including NBCC, Thomas Cook and PAGE Industries among others.
1250 stocks advanced and 416 declined while 418 remained unchanged on the NSE. On the BSE, 1474 stocks advanced, 595 declined and 111 remained unchanged.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.