The benchmark Sensex today jumped over 133 points to reclaim the 21,000 mark buoyed by gains in bluechips including TCS, Tata Motors and Hindalco, to log the best monthly rise since October 2013.
For the week, the Sensex gained 419.37 points -- the best since the week ending November 29, 2013 when the BSE barometer surged 574.54 points.
Today, the BSE index resumed nearly stable and traded in a narrow range of 150 points, before concluding at 21,120.12, showing a rise of 133.13 points or 0.63 per cent.
Experts said investors are looking forward to India's October-December quarter GDP growth figure.
The NSE 50-issue CNX Nifty improved further by 38.15 points, or 0.61 per cent, to end at 6,276.95.
Country's biggest software services exporter TCS shot up by 4.14 per cent and the Tata Motors by 4.15 per cent, together contributing almost 100 points to the Sensex surge.
Hindalco was the biggest Sensex gainer with 6.86 per cent spurt. Rise in Sun Pharma, ONGC, L&T, Axis Bank, and Dr Reddy's also supported gains. However, shares of RIL, HDFC Bank, Maruti Suzuki, HUL and NTPC were among the 12 that fell.
In five straight sessions of gain -- the longest in 2014 -- Sensex has flared up by 583.48 points or 2.84 per cent. In February, which saw the interim budget, the barometer zoomed 606.27 points -- the best month since galloping 1,784.75 points in October 2013.
Meanwhile, Foreign institutional investors (FIIs) bought shares worth a net Rs 511.15 crore on Wednesday, as per provisional data from the stock exchanges.
Globally, Asian stocks closed narrowly mixed with upward bias weighed down by tension in Ukraine. Key indices in China, Hong Kong, Singapore and South Korea closed up while the one from Japan finished down. Taiwan market was closed today.
US Fed Chairperson Janet Yellen yesterday reiterated the Fed is likely to continue tapering asset purchases at a "measured" pace.
European markets were trading narrowly mixed as key indices in France and the UK eased by 0.13 per cent to 0.28 per cent while Germany's DAX was quoting up by 0.10 per cent.
Reports said ECB President Draghi yesterday said that policy makers would remain alert to signs of further downside risks to inflation and stand ready to act.
Jignesh Chaudhary, Head of Research, Veracity Broking Services said: "Indian markets continued their positive trading after a day's break due to a holiday yesterday.