The market session on Wednesday ended on a positive note as the Sensex soared over 500 points at 34,442.05, while the Nifty closed above 188.20 points at 10,386.60.
Posting a strong surge in financials along with IT, the indices were further pushed higher by Pharmaceuticals.
Automobiles, consumption, infrastructure, and PSU banks were the other big gainers. In the broader markets, the Nifty Midcap index rose around 2 percent.
The Indian rupee recovered from the day's low of 74.14, as it traded lower by 20 paise 73.88 per dollar, after a weak opening at 73.92.
With the results season on, shares of housing finance companies gained strength amid news of PNB Housing Finance raising over Rs. 2,450 crore through commercial papers, reported the Moneycontrol.
On the other hand, the IT stocks further extended their gains, while pharmaceuticals and PSU banks gained too.
FMCG major, Dabur India, reported a net profit of Rs 377.5 crore for the September quarter, a rise of 4.1 percent as compared to Rs 363 crore posted by the firm during the same period of last year.