The Sensex closed the day at 28,141, up 486 points, while Nifty50 settled at 8,716, up 155 points.
Strong gains in metal, energy, auto and power shares lifted the key indices to new highs.
The broader Nifty of National Stock Exchange scaled the 10,200 mark intra day before closing at 10,184.85, showing a sizeable gain of 38.30 points, or 0.38 per cent.
According to market experts, GST Bill, movement of the rupee and uncertain global cues amid expected rate cut by the US Fed will dictate the movement of the markets.
The NSE Nifty also gained 53 points, or 0.49 per cent, to settle 10,855.15 after shuttling between 10,870.40 and 10,749.40.
Traders said falling crude prices in the global market was a big boost for the economy as it lightens the country's import bill burden, eases inflation and current account deficit concerns.
The BSE on Monday slipped below the crucial Rs 100-lakh crore (Rs 100 trillion) mark as the benchmark Sensex lost 261 points.
Geo-political concerns over death of a Saudi journalist, Brexit and likely breach in Italy's budget also kept investors cautious.
Tata Motors was the top gainer on better-than-expected June quarter revenues
HDFC twins, Axis Bank, ICICI Bank and SBI from the financial space gained between 1-2.7%.
The laggards in the Sensex kitty were Vedanta, Tata Steel, M&M, HCL Tech, Bharti Airtel, Maruti Suzuki, L&T, Asian Paint and HDFC
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
However, investors have turned cautious over the likelihood of Britain leaving the European Union.
A declining rupee, elevated crude oil prices and sustained foreign fund outflows added to the gloom
The Nifty finished the day at 10,265.65, a hefty gain of 98.95 points, or 0.97 per cent, after shuttling between 10,270.85 and 10,195.25.
The 30-share Sensex stayed in the green for the better part of the session and hit the day's high of 38,297.70 as buying pace gathered momentum towards the fag-end.
Infosys was the top gainer in the Sensex pack, rising 2.36 per cent, followed by HDFC Bank up 1.39 per cent.
Profit booking in realty, oil and gas, capital goods, power and metal stocks pulled the index down to the day's low of 25,347.33 points.
Stocks reeled under huge losses on Thursday as the benchmark Sensex plunged sharply by over 465 points, the biggest single-day fall in three months, after India carried out "surgical strikes" on Wednesday night on terror launch pads across the Line of Control.
Market breadth depicted gains with 1,476 advances over 1,403 declines on the BSE. 140 stocks remained unchanged.
The broader markets ended in line with the benchmark indices- BSE Midcap and Smallcap indices ended higher by 1.3% and 0.9% each.
A recovery in rupee, buying by domestic institutional investors, encouraging earnings by select blue-chips and stock specific buying helped the market get back on its feet
Sensex was up 184 points at 25,580 and the Nifty added 71 points to end the day at 7,654
The BSE Sensex zoomed 318 points to end at 33,351.57, while the broader Nifty spurted 88 points to 10,242.65.
The trend was visible in the early trade on Thursday as investors indulged in trimming their bets after the minutes of the US Federal Reserve's September meeting indicated a possible rate hike this year.
Metal stocks lose ground with Hindalco, Tata Steel, Sesa Sterlite down 4-10%.
Coal India fell the most by 2.58 per cent among Sensex scrips, dragging the index into the negative zone.
Phonemaker Apple is said to be in talks to take 30,000 sq ft retail space at plush property Maker Maxity, in Bandra Kurla Complex
Yes Bank was the top gainer in the Sensex pack, surging 3.76 per cent, followed by SBI at 3.18 per cent.
Axis Bank emerged as the biggest gainer in the Sensex pack, surging 6.62 per cent, followed by SBI at 5.88 per cent.
Investors booked profits in recent gainers
Most of the session's gains for both the indices were wiped out as investors rushed to book profits ahead of F&O expiry on Thursday and also due to concerns over stretched valuations.
Financials were among the top losers along with Sun Pharma and index heavyweight Reliance Industries
Nifty is likely to remain under selling pressure unless and until it breach the 7,700-7,720 levels on closing basis.
Investors booked profits after strong 641-point rally in the previous two sessions, brokers said.
The broader NSE Nifty closed below the 10,600 mark by plunging 98.15 points, or 0.84 per cent, to 11,582.35 after shuttling between 11,567.40 and 11,751.80.
Metal stocks were trading under pressure while IT, auto, realty stocks gained in today's deals
This is its biggest single session fall since August 24, 2015, when it had lost 1,624.51 points.
Infrastructure and real estate prominently feature as wealth destroyers.
ITC, Sun Pharma, Cipla and Tata Steel were top gainers on BSE Sensex
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