The 30-share BSE Sensex surged as much as 407 points intraday.
Bulls were back in power at Dalal Street on Thursday as the short covering-led rally in banks in last hour of trade helped benchmark indices gain one percent each.
The market rallied for the first time in last seven consecutive sessions. The easing of worries surrounding the trade war also boosted market sentiment, especially after media reports indicated that the some countries may be excluded from United States import tariff plan.
The 30-share BSE Sensex surged as much as 407 points intraday, before closing up 318.48 points at 33,351.57 while the 50-share NSE Nifty rallied 88.50 points to 10,242.70 amid volatility.