In the three-day rally, Sensex advanced 1,086 points, while Nifty gained nearly 312 points.
All the 30 stocks on the Sensex ended in green.
BSE LargeCap Index rose 0.16 per cent, whereas BSE SmallCap and MidCap index rose 0.83 per cent and 0.80 per cent, respectively.
The rupee recovered early losses to close flat at 79.84 (provisional) against the US dollar on Monday amid a strong greenback overseas and massive sell-off in equities.
BSE midcap ended up 0.64 per cent, whereas BSE SmallCap and BSE LargeCap closed 0.53 per cent and 0.71 per cent, respectively.
Mahindra & Mahindra, Maruti Suzuki India, Asian Paints, Hindustan Unilever, Ultratech Cement and HDFC, among others, were the major gainers on the BSE.
At close, Sensex ended up 130.18 points or 0.22 per cent at 59,462.78, while Nifty closed 39.15 points or 0.22 per cent higher at 17,698.15.
By 1 p.m., Sensex was trading up 175.73 points or 0.30 per cent at 58,475.53, and Nifty was trading 45.75 points or 0.26 per cent higher at 17,427.75.
Investors also stayed on the sidelines ahead of the RBI's policy meet outcome on Friday.
The 30-share BSE benchmark jumped 619.27 points to 57,477.06. The broader NSE Nifty advanced 189.15 points to 17,118.75.
The rupee appreciated 26 paise to close at 79.65 (provisional) against the US dollar on Thursday, tracking a firm trend in the domestic equities.
The 30-share BSE Sensex fell 306.01 points or 0.55 per cent to settle at 55,766.22 dragged down by index heavyweight Reliance Industries.
The broader NSE Nifty climbed 114.20 points or 0.69 per cent to 16,719.45.
From the Sensex pack, Reliance Industries, Maruti, ICICI Bank, ITC, HDFC and State Bank of India were the major gainers in early deals.
Weakness in index majors Reliance Industries and ICICI Bank also weighed on the domestic equity markets.
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