Broader markets rallied with BSE Midcap index adding 231 points or 1.38 per cent to end at 16,893.61 and Smallcap index closing at 18,031.24, up 1.29 per cent or 230 points.
Fall in crude oil prices: Sharp decline in crude oil prices in global commodities on Thursday also boosted investor sentiment in today's trade.
The gauge had gained 36.78 points in the previous volatile session.
"Technically, while the Nifty has bounced back smartly, the underlying trend remained down".
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Mumbai: Benchmark Nifty staged a smart recovery and climbed by 122.60 points on Thursday, driven by across- the-board value buying despite bearish Asian cues.
On the currency front, the rupee weakened by 4-5 paise at 64.57-56 against the U.S. dollar from its previous close at 64.52.
Other gainers were Asian Paints, Maruti Suzuki, Tata Steel, Bajaj Auto, NTPC, L&T, ICICI Bank, HUL, SBI, Tata Motors, Lupin, Adani Ports, Hero Motocorp, Power Grid and Infosys, rising by up to 3.29 per cent.
"Upcoming state election in Gujarat and rupee movement against dollar ahead of U.S. tax reform will be keenly watched for further momentum in the market".