The main gainers on the Sensex were Hindalco, JSPL, SBI, Maruti Suzuki, GAIL, L&T.
Coal India and Tata Motors up 1.5% buck the larger market trend.
Broader market outperformed with the S&P BSE Midcap index adding 0.7%, while S&P BSE Smallcap index gained 0.6%.
The gains in IT majors were negated by losses in heavyweights like L&T, ITC, HUL and M&M.
Top gainers in the Sensex pack included Bharti Airtel, Tata Motors, IndusInd Bank, Kotak Bank, Hero MotoCorp, Asian Paints and PowerGrid, which rose up to 2.53 per cent.
Coal India moved higher by over 3% to Rs 263, despite of weak April-June (Q1FY14) results, on expectation of earnings improvement by going forward.
Equity flows have been under pressure since the second half of 2018, after the IL&FS crisis sent shockwaves in both equity and debt markets.
At close, the Sensex was up 407 points or 2.3% at 18,313 and the Nifty advanced 106 points or 2%, to close above the psychological levels of 5,400 at 5,408.
Metal stocks outperform posting its biggest single day rally in past two years on hopes revival of Chinese economy.
TCS and Infosys were the top losers in the Sensex pack, falling up to 3.39 per cent.
Over the past one-and-half years, the number of stocks trading below their respective face value has increased 29 per cent after a sharp correction in stocks of small-cap companies.
At close, the Sensex was up 0.7% or 124 points at 18,789 and the Nifty gained 0.8% or 46 points to end at 5,565.
Short covering in index heavyweights like HDFC, HDFC Bank and TCS aided the upmove.
On a net basis, foreign portfolio investors bought Rs 446 crore worth of domestic stocks on Thursday and domestic institutional investors (DIIs) were net buyers to the tune of Rs 49.68 crore, provisional data available with BSE suggested.
SBI was the biggest loser in the Sensex pack, shedding 2.40 per cent, followed by Yes Bank, Bharti Airtel, L&T, Sun Pharma, M&M, ICICI Bank, ONGC, RIL, Asian Paints, Vedanta and HUL, which lost up to 2.37 per cent.
The S&P BSE Midcap and the S&P BSE Smallcap indices under-performed to lose 0.8% and 1.6%
Benchmark indices weighed down by software and financial shares coupled with weak global cues.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Broader market underperformed the headline indices with BSE Midcap and BSE Smallcap finishing in red
The S&P BSE Midcap and the S&P BSE Smallcap indices gained 0.3% and 0.5%, respectively
The S&P BSE Midcap and the S&P BSE Smallcap indices added 0.5% and 0.7%, respectively
The Sensex posted its biggest single-day jump in over a decade at 1,921 points and investors' wealth soared by a staggering Rs 6.8 lakh crore after Finance Minister Nirmala Sitharaman delivered a surprise cut in corporate tax rates on Friday.
Broader markets underperformed indices with BSE Midcap down 0.43% while the Smallcap index fell 0.07%.
S&P BSE Midcap and the S&P BSE Smallcap indices gained 2% and 1.6% respectively
So far in September, the S&P BSE Small-cap index has gained nearly 3 per cent as compared to a modest 0.2 per cent dip in the S&P BSE Sensex.
Heavyweights like Reliance, L&T, Tata Motors, ICICI Bank, HDFC Bank, Bharti Airtel, TCS, ONGC and SBI among the draggers.
Firm global cues, along with gains in FMCG majors ITC and Hindustan Unilever aid the upmove.
In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices gained 0.5% and 0.4%, respectively.
While Vedanta was the biggest gainer in the Sensex pack rallying 4.67 per cent, others included Tata Steel, ONGC, NTPC, Yes Bank, Infosys, Sun Pharma, Bharti Airtel, SBI, Bajaj Finance, L&T and RIL, rising up to 4.13 per cent.
The number of issues were the lowest since FY15, compared to 45 in FY18.
Indian equity, forex, money and commodity markets will remain closed today on account of Mahashivratri.
Operator syndicate could be behind stock hammering, suspects regulator.
Nearly 400 stocks hit their 52-week low on BSE on Thursday.
Tata Steel was the biggest gainer in the Sensex pack, rising 3.36 per cent, followed by Vedanta, Bajaj Finance, TCS, IndusInd Bank, Infosys, ONGC, Kotak Bank, HDFC Bank, HDFC, M&M and ITC.
The S&P BSE Midcap and S&P BSE Smallcap indices gained 0.4% and 1%, respectively
Infosys, Reliance Industries, TCS, HDFC, HDFC Bank, Maruti, SBI, IndusInd Bank and Kotak Bank led the gains on the Sensex, rising up to 2.53 per cent.
BSE Midcap and BSE Smallcap outperformed the frontline indices to gain 0.2% and 0.3%
ICICI Bank and HDFC Bank help the upmove.
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