The BSE Sensex surged by 506 points in late morning trade on persistent buying mainly in Auto, Capital Goods, Realty, Banking, FMCG stocks on the back of sustained foreign capital inflows coupled with higher global cues. Leading the pack were Tata Motors, HDFC Bank, Bharti Airtel shares.
The BSE Sensex opened higher at 19,448.39 and rallied further to 19,813.92 before quoting at 19,776.33 at 1025 hrs, showing a sharp gain of 506.27 points or 2.63 per cent from its last weekend's level.
The NSE Nifty also rose by 166.00 points or 2.92 per cent to 5,846.40 at 1025 hrs.
Major gainers were Tata Motors (6.78 pct), HDFC Bank (5.78 pct), Bharti Airtel (5.17 pct), Larsen & Toubro (4.39 pct), Coal India (3.66 pct), ITC Ltd (3.35 pct), Maruti Suzuki India (3.31 pct), State Bank of India (2.76 pct), Hero MotoCorp (2.75 pct), Mahindra & Mahindra (2.58 pct) and HDFC Bank (2.55 pct).
Foreign institutional investors (FIIs) bought shares worth a net Rs 800.71 crores last Friday as per provisional data from the stock exchanges.
Asian stocks hit three-month high in their early trade ahead of a fresh round of Chinese economic data and signs that Syrian tensions are easing. Key benchmark indices in China, Hong Kong, Indonesia, South Korea, Singapore and Japan rose by 0.22 pc to 2.06 pc while Taiwan's Taiwan Weighted index shed 0.32 pct.
US markets ended higher yesterday helped in part by hopes that the threat of a US military intervention in the Middle East could be averted.