Mumbai: Benchmark Nifty staged a smart recovery and climbed by 122.60 points on Thursday, driven by across- the-board value buying despite bearish Asian cues.
Sharp fall in global oil prices on Wednesday also boosted investor sentiment.
Overseas, European shares were trading higher as tech stocks rebounded. Most Asian shares declined as US policy uncertainty kept sentiment in check.
The NSE Nifty opened higher at 10,063.45 and moved in a range of 10,182.65 and 10,061.90, before ending at 10,166.70, up by 122.60 points, or 1.22 percent -- its highest closing since November 30, 2017.
It saw an intra-day movement of 120.75 points.
The Nifty mid-cap and small-cap indices climbed by 1.43 per cent and 1.44 per cent, respectively.
Sector-wise, Infra rose by 2.69 per cent, followed by Auto 1.95 per cent, Metal 1.82 per cent, Media 1.39 per cent, Energy 1.37 per cent, PSU Bank 1.25 per cent, FMCG 0.88 per cent, Private Bank 0.85 per cent, Bank 0.83 per cent, IT 0.80 per cent, Finance Service 0.78 per cent and Pharma 0.25 per cent.
Major index gainers were GAIL, Bharti Airtel, Tech Mahindra, UPL, Asian Paints, Maruti, Bharti InfraTel, Tata Steel and Bajaj Auto.
Losers included Coal India, TCS, Wipro, Cipla, Sun Pharma, Dr Reddy's and IndusInd Bank.
The market breadth, indicating its overall health, was in favour of gainers. On the NSE, 1,273 shares advanced, 473 declined, while 60 remained unchanged.
Total securities that hit their price bands were 196.
Turnover in the cash segment rose to Rs 27,198.49 crore from Rs 25,481.20 crore as on Wednesday.
A total of 12,805.11 lakh shares changed hands in 99,19,432 trades. The market capitalisation of listed firms on the NSE stood at Rs 1,43,06,806.25 crore.