The Allahabad High Court has granted bail to businessman Rajesh Bothra in connection with the Rotomac 'scam', citing the likelihood of a prolonged trial.
The Sensex soared 402 points higher to end at 25,720 and the Nifty surged 130 points to close at 7,819.
Investors will keenly watch out for the Futures & Options expiry for July on Thursday
Markets across the globe are rallying on hopes that the US Federal Reserve won't lift interest rates until 2016.
Sectors such as Auto, Banks, Capital Goods, FMCG, Metal, Oil & Gas and Power are trading marginally lower.
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