The 30-share BSE Sensex rallied 595.37 points or 1.88 per cent to finish at 32,200.59. Similarly, the broader NSE Nifty climbed 175.15 points or 1.88 per cent to 9,490.10.
L&T was the top gainer in the Sensex pack, spurting 6.17 per cent, followed by Hero MotoCorp, IndusInd Bank, HDFC Bank, Maruti, HDFC, Tata Steel and ICICI Bank.
ITC, SBI and Bharti Airtel were the only laggards, slipping up to 0.83 per cent.
Benchmarks witnessed a broad-based rally on account of short-covering by market participants as May series futures and options (F&O) contracts expired at the end of the session, analysts said.
All sectoral indices ended on a positive note, with BSE capital goods index surging 5.11 per cent, followed by auto, industrials, finance, realty, bankex and metal.
Broader BSE mid-cap and small-cap indices rallied up to 1.42 per cent.
Global equities remained buoyant on economic recovery hopes, with US’ Dow Jones closing above the 25,000-level for the first time since March.
Benchmarks in Shanghai and Tokyo ended with gains, while Hong Kong and Seoul settled in the red.
Stock exchanges in Europe rose up to 1 per cent in opening trade.
International oil benchmark Brent crude futures rose 0.92 per cent to USD 34.92 per barrel.
On the currency front, the rupee settled 5 paise down at 75.76 against the US dollar.