Domestic benchmark Sensex, rallied over 1,300 points in early trade on Tuesday led gains in bank, IT and auto stocks amid recovery in global equities.
After hitting a high of 28,963.25, the 30-share BSE barometer was trading 1,127.57 points or 4.09 per cent higher at 28,718.52.
Similarly, the NSE Nifty soared 347.95 points, or 4.30 per cent, to 8,431.75.
IndusInd Bank was the top gainer in the Sensex pack, surging up to 15 per cent, followed by Mahindra and Mahindra, HCL Tech, ICICI Bank, Axis Bank and Infosys.
On the other hand, Bajaj Finance was the sole loser.
Despite concerns over rising coronavirus cases in the country, domestic equities took positive cues from global stocks and turned positive, traders said.
Bourses in Shanghai, Hong Kong, Tokyo and Seoul rallied up to 2 per cent.
Benchmark exchanges on Wall Street ended over 7 per cent higher in overnight trade.
Brent crude futures, the global oil benchmark, rose 2.66 per cent to USD 33.93 per barrel on fresh hopes an OPEC-led meeting this week will reach an agreement to reduce oversupply and shore up the market.
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