The benchmark BSE Sensex jumped over 412.84 points on Thursday and the NSE Nifty reclaimed the 11,500 mark in early trade on Wednesday. Earlier, it ended 424.50 points, or 1.12 per cent, higher in the previous session.
The broader Nifty also soared 124.95 points to 11,570 on Thursday.
During the day, the benchmark indices witnessed sharp volatility after Prime Minister Narendra Modi tweeted that he will be addressing the nation, amid various speculations about the message.
In the Sensex pack, gainers included HCL Tech, SBI, ITC, Bharti Airtel, Sun Pharma, Yes Bank, Axis Bank, TCS, Asian Paints, ICICI Bank, TCS, Bajaj Finance and Infosys, jumping up to 3.84 per cent.
On the other hand, Tata Steel, ONGC, Bajaj Auto, PowerGrid, M&M and Hero MotoCorp fell up to 1.73 per cent.
"Indian markets have been the recipient of robust foreign flows this entire March on the back of increased likelihood of strong political stability and policy continuity post elections and the softer stance adopted by global central banks," said Devang Mehta, Head Equity Advisory, Centrum Wealth Management.
The rupee, meanwhile, depreciated 11 paise against the US dollar to 68.99 (intra-day). Elsewhere in Asia, Hong Kong’s Hang Seng climbed 0.16 per cent, while Japan’s Nikkei fell 1.61 per cent, Shanghai Composite Index declined 0.92 per cent and Korea’s Kospi slipped 0.82 per cent.
In the Asian region, Hong Kong's Hang Seng was up 0.49 per cent, Korea's Kospi was trading marginally higher, Shanghai Composite Index gained 0.55 per cent; while Japan's Nikkei fell 0.61 per cent.
On Wall Street, the US Dow Jones Industrial Average ended 0.55 per cent higher on Tuesday. The rupee, meanwhile, depreciated 5 paise against its previous close to 68.91 against the US dollar in early session.
(With inputs from PTI)