The BSE Sensex was up 251.87 points to 79,728.50 points at 10:31 am, while the NSE Nifty rose 74,20 points to trade at 24,287.50.

The NSE Nifty 50 rose 217.95 to end at 24,213.3, while the BSE Sensex gained 694.39 points, closing at 79,476.63. Both benchmarks had fallen by about 0.6% during the session before a strong rally in the final hours of trading.

In the sectoral indices on the National Stock Exchange, all sectors opened in the green except Nifty Consumer Durables. Nifty IT opened as the leader in gains with a surge of 0.86 percent, followed by Nifty Bank, up by 0.45 percent, and Nifty Auto, up by 0.51 percent.

Equity indices rise on IT stocks, U.S. market rally; Sensex up 338.1 points, Nifty up 101.5 points.