The Sensex rose 633 points to 76,704, while the Nifty gained 197 points to close at 23,778, holding above the 23,750 mark. Gains were led by index heavyweights including Infosys, Reliance Industries and Mahindra & Mahindra.
Broader markets outperformed the benchmarks, with the midcap index jumping 1,145 points, while market breadth remained firmly positive, with the advance-decline ratio at 5:1.
Sectorally, information technology stocks led the gains, with Coforge, Tech Mahindra and Persistent Systems among the top performers. In the broader market, stocks such as KPIT Technologies, Coforge, Paytm, Delhivery and OFSS saw strong buying interest.
Among stock-specific moves, Urban Company surged 9% after SBI Mutual Fund increased its stake, while electric mobility stocks led by JBM Auto rallied sharply on strong volumes. Mankind Pharma gained after acquiring the Rivotril brand from Roche for the Indian market.
On the downside, MCX fell 3% after NSE introduced 10-gram gold futures contracts, while Swan Defence hit the lower circuit following an offer-for-sale. The metal index underperformed, with Vedanta declining.
Meanwhile, the Indian rupee weakened sharply, crossing the 92.50 per dollar mark for the first time to hit an intraday low of 92.63, which also marked its record closing level, compared to 92.37 in the previous session.
