The BSE gauge Sensex rallied over 270 points and the NSE Nifty reclaimed the key 15,000-level in early trade on Monday, tracking a robust recovery in global shares.
The 30-share Sensex was trading at 50,679.19, showing a rise of 273.87 points or 0.54%.
Likewise, the broader Nifty was quoted at 15,015.05, up 76.95 points or 0.52%.
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On the Sensex chart, ONGC, NTPC, Axis Bank, M&M, HDFC Bank and SBI were major gainers – climbing as much as 4.3%.
Of the Sensex shares, 21 traded in the green.
In other Asian markets, equities staged a strong recovery after witnessing panic sell-offs for a couple of sessions as investors cheered the U.S. Senate passing a $1.9 trillion stimulus bill for COVID-19 relief package.
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Investor worries also subsided after the rise in bond yields steadied and the U.S. labour department reported stronger-than-expected jobs data for February.
Meanwhile, global crude oil benchmark Brent Futures rose 1.49% to $70.73 per barrel.
On Friday, the Sensex had dropped by 440.76 points or 0.87%, and the Nifty had ended lower by 142.65 points or 0.95%.
On a weekly basis, however, the Sensex had gained 1,305.33 points or 2.65% and the Nifty added 408.95 points or 2.81%.
Foreign investors offloaded equities worth ₹2,014.16 crore on a net basis in Indian capital markets on Friday, according to exchange data.