Equity benchmark indices Sensex and Nifty bounced back on Tuesday after days of downtrend on value-buying at lower levels and rally in blue-chip stocks HDFC Bank, Tech Mahindra, and Mahindra & Mahindra (M&M).
Continuous buying by domestic institutional investors also supported the indices, traders said.
Snapping its four-day decline, the BSE Sensex climbed 239.37 points, or 0.31 per cent, to settle at 77,578.38.
However, fag-end decline in heavyweight Reliance Industries restricted the market rally.
During the day, the 30-stock index zoomed 1,112.64 points, or 1.43 per cent, to 78,451.65.
The NSE Nifty also bounced back after falling in the past seven trading days.
It went up by 64.70 points, or 0.28 per cent, to settle at 23,518.50.
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From the Sensex pack, M&M, Tech Mahindra, HDFC Bank, Titan, Tata Motors, UltraTech Cement, Power Grid, and Infosys were the biggest gainers.
In contrast, Reliance Industries, State Bank of India, Bajaj Finserv, Maruti, Tata Steel, and Bharti Airtel were among the laggards.
FIIs offload Rs 1,403.40 crore equity
Foreign institutional investors (FIIs) offloaded equity worth Rs 1,403.40 crore on Monday, while domestic institutional investors (DIIs) bought shares worth Rs 2,330.56 crore, according to exchange data.
In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong settled higher.
European markets were trading lower.
The US markets ended mostly higher on Monday.
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Global oil benchmark Brent crude dipped 0.25 per cent to $73.12 a barrel.
Leading stock exchanges BSE and NSE have declared a trading holiday on November 20 for Assembly elections in Maharashtra.