Sensex started gaining momentum in afternoon trade and rallied over 482 points on continued buying by domestic funds and recovery in the rupee amid higher Asian markets.
Banking stocks too closed higher a day after RBI kept its key rates unchanged. The Sensex was up almost 100 points while Nifty traded near 10,500 in early morning deals. Brent crude futures tumbled to a six-week low of $65.16 per barrel.
About 2,158 shares advanced against 639 declining shares on the BSE. BSE Healthcare index is up by 2.53%, while BSE Information Technology is up by 2.57%.
41 stocks closed higher against 9 falling on the Nifty.
Also, SBI, Infosys, Axis Bank, Tata Steel, HDFC LTD, Hindustan Unilever, Kotak Bank, Maruti Suzuki, L&T, Reliance, M&M, Coal India, Bajaj Auto, ICICI Bank, IndusInd Bank, Yes Bank, HDFC Bank, TCS, Hero MotoCorp, Asian Paint and Wipro gained up to 2.97 per cent.
The BSE Sensex and NSE Nifty shed almost 6 percent each in the previous seven sessions, matching a losing streak of the same duration in September.
The value of trade stood at Rs 1,39,206 lakh. Dr Reddy's Labs rose 3 percent despite there could be a delay in launch of generic Suboxone film after USA drug maker Indivior filed patent lawsuits against five generic filers including the company.
New Delhi, Feb 8 Shares of drug maker Cipla today surged almost 8 per cent, a day after the company reported 7 per cent rise in profit for the third quarter ended December 2017.
The company reported a net profit of Rs 375 crore in the same period past year.
HeidelbergCement India reported a net profit of Rs 31.76 crore for the quarter ended December 2017.
Its revenue from operations stood at Rs 1,390.55 crore. The company had posted a net profit of Rs 128.62 crore for the same period in the previous fiscal.