Mumbai: The BSE benchmark Sensex surged over 558 points and the NSE Nifty topped the 11,300-mark on Tuesday, propelled by broad-based buying and firm cues from global markets.
After opening above the key 38,000-level, the 30-share Sensex went on to touch the day's high of 38,555 in late-afternoon trade. It finally closed at 38,492.95, up 558.22 points or 1.47 per cent.
Likewise, the NSE barometer Nifty climbed 168.75 points or 1.52 per cent to end at 11,300.55.
On the Sensex, 25 shares closed with gains while only five logged losses.
Ultratech Cement, TCS, Kotak Mahindra, M&M, Maruti, IndusInd Bank and Bajaj Auto were the prominent gainers.
On the other hand, ICICI Bank, Nestle, Asian Paints, ONGC and ITC ended in the red.
Asian markets posted significant gains following upbeat US stocks.
On the forex market front, the Indian rupee settled flat at 74.84 against the US dollar.
Global oil benchmark Brent crude slipped 0.07 per cent to USD 43.87 per barrel.
India's overall COVID-19 cases stood near the 15-lakh mark, with a single-day surge of about 48,000 on Monday, official data showed.
The death toll from the disease in the country has surpassed 33,000.
The number of COVID-19 cases around the world has crossed 1.64 crore, with over 6.54 lakh fatalities.