Closing Bell: Sensex ended 383 points higher at 61,350 while Nifty with a gain of 143 points settlled at 18,268

Tata Steel was the top gainer in the Sensex 30 pack, up over 4 per cent at Rs 1,348. Titan surged 3.7 per cent to Rs 2,468. Asian Paints, Bajaj Finance and Nestle India also jumped over 3 per cent each.

Tech Mahindra, Kotak Bank and Reliance Industries were up around 2.5 per cent each. ITC, UltraTech Cement, Bajaj Finserv and SBI also finished with notable gains.

On the other hand, IndusInd Bank slipped nearly 2 per cent. ICICI Bank and PowerGrid Corporation were the other notable losers.

The broader markets out-performed the benchmark indices by a wide margin. The BSE Midcap index gained 1.8 per cent, while the Smallcap index rallied 2.2 per cent as against a 0.6 per cent up move on the BSE benchmark.

All sectoral indices also ended in the positive zone. The BSE Realty index surged 3.4 per cent, followed by a near 3-per cent gain in the BSE Consumer Durables and Metal indices. The Auto and Energy index also gained 2 per cent. The overall breadth too was fairly positive, with 2,224 advancing shares versus 1,051 declining stocks on the BSE.

In the broader markets, sugar as a sector was also in demand today on hopes of healthy earnings, after Dwarikesh Sugar yesterday reported strong Q2 numbers. Balrampur Chini and Triveni Engineering were the major gainers.