The S&P BSE Sensex jumped 1,534 points, or 2.91 per cent, to end at 54,326, while the Nifty50 shut shop at 16,266, up 457 points or 2.89 per cent.

On the broader market, the BSE MidCap and Smallcap indices added 2 per cent each.

Dr Reddy’s Labs, JSW Steel, Nestle India, Tata Motors, Tata Steel, Cipla, Adani Ports, L&T, RIL, Axis Bank, and SBI led from the front, rallying over 3.5 per cent each.

On the downside, only UPL and Shree Cement were in the red,