The Sensex ended higher by 245 points at 27,372 mark and the Nifty gained 66 points at 8,225.
Asian markets were trading mixed with the Nikkei gaining after the US dollar strengthened against the yen.
The BSE benchmark index is yet to give any indication on the monthly Fibonacci charts.
The recovery was led by pharma majors led by Dr Reddy's Labs.
Sensex ends in green, bluechips in spotlight.
In an hour-long chat on rediff.com on Thursday, A K Prabhakar, senior VP and Head -- Equity Research (Retail), Anand Rathi Financial Services Ltd, discussed the best stocks to put the investors' money in.
Top gainers from the Sensex pack are Asian Paints, Bajaj Auto, ITC, NTPC, L&T and HDFC, all up 2% each
Indian loses chance to be research hub as domestic drug companies move R&D overseas.
HDFC and Infosys contribute the most to today's rally.
The Sensex closed the day at 27,490, higher by 479 points and the Nifty ended at 8331.95, up 150.45 points.
The former McKinsey India head is presently on board of many big Indian conglomerates.
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Geopolitical concerns, earnings sees investors rush to safe haven plays post the Union Budget presentation in July.
The BSE IT sector, however, failed to snap a three-day losing streak and closed around 0.14 per cent lower.
Expectations of strong results, consistent performance and investors preference for stocks in the defensive space help the sector outshine broader markets.
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Participants are eyeing the Bihar elections.
Pharma shares extended losses after the government's ban on combination drugs.
Infosys, Wipro and HUL among the top losers for the day.
The bias for the Sensex is likely to remain bearish as long as the index sustains below 18,900-odd levels. On the downside, the index could slide to 17,300-odd levels
Banks stocks continued to trade weak along with FMCG major ITC.
All sectoral indices, led by realty, PSU, oil & gas and banking, were in positive zone with gains of up to 1.25 per cent.
The total investor wealth, measured in terms of cumulative value of all listed stocks on BSE, slumped by over Rs 7 lakh crore during the torrid week.
The local markets are expected to react to global triggers until the government announces the Union Budget.
Instead of being carried away by Friday's historic election verdict, savvy investors were seen taking money off the table, after the benchmark Sensex rallied about 1,500 points in intra-day trade.
Bank of Baroda ended flat after sharp gains in the previous session.
The benchmark BSE Sensex reclaimed the 28,000 mark, spurting by 409 points or 1.4% at 28,114 and Nifty settled above the 8,500 mark at 8,532, gains of 111 points.
The Asian markets are largely trading in the green, taking heart from a positive close on Wall Street.
Of these, three stocks belong to the automobile pack and two are from the pharma.
Investors will remain cautious ahead of F&O expiry.
BSE Bankex, Healthcare, Capital Goods and Consumer Durables ended higher.
Index heavyweight RIL surged 3% to end above Rs 1,000 mark while IT majors were also the top gainers.
Positive cues from the global market front aided the rally.
Infosys, TCS, ICICI Bank and Sun Pharma among the top losers of the hour.
In peace and at war, firms remain tethered to promoter families in a uniquely Indian way.
The breadth was neutral with 1,329 advances and 1,320 declines.
India had been engaged in a contentious battle with the US over the issue, especially in the pharmaceutical sector.
RBI's fifth bi-monthly monetary policy meet due tomorrow also kept the investors on their toes.
Markets closed the day in green on favourable domestic factors,
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