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Benchmark Sensex rebounded by 1,293 points while broader Nifty shot up nearly 2 per cent to a record high on Friday, cutting short the five-day losing streak on heavy at lower levels and a rally in blue-chips like Reliance Industries.
The 30-share BSE Sensex jumped 1,292.92 points or 1.62 per cent to settle at 81,332.72.
During the day, it soared 1,387.38 points or 1.73 per cent to 81,427.18.
The NSE Nifty surged 428.75 points or 1.76 per cent to settle at an all-time closing high of 24,834.85.
All the Sensex shares except for Nestle closed in green.
Bharti Airtel was the biggest gainer, rising by over 4.51 per cent.
Adani Ports, Sun Pharma, Tata Steel, HCL Technologies, Infosys, JSW Steel and Mahindra & Mahindra were the other big gainers.
Nestle was the only loser, closing lower by 0.07 per cent.
In Asian markets, Seoul, Shanghai and Hong Kong settled higher while Tokyo ended lower. European markets were also trading in positive territory.
The US markets ended mostly lower on Thursday.
Global oil benchmark Brent crude declined 0.40 per cent to $82.04 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,605.49 crore on Thursday, according to exchange data.