Besides, heavyweight Reliance shares were the biggest contributor to the gains in equity benchmark Sensex and Nifty50 during the session today.
BSE Sensex zoomed 445.56 points at 59,744.88 and the Nifty also climbed 131 points at 17,822.
On the sectoral front, IT and Energy stocks witnessed a strong recovery, while financials also witnessed a modest rebound. However, pharma and FMCG stocks were laggards.
Buying momentum remained visible in midcap and smallcap stocks, while value stocks continued to outperform growth stocks.
ONGC, IndusInd Bank, Coal India and IOC were among top Nifty gainers, while Cipla, Hindalco, Shree Cement and Sun Pharma were laggards.
Reliance Industries shares surged to a new record high with market capitalisation rose to near Rs17.5 lakh crore.
Meanwhile, petrol and diesel prices were zoomed to all-time high levels as rates were increased again after international oil prices hit the highest mark since 2014.