Benchmark indices returned to their winning ways after a one-day hiatus, led by strong buying action in banks and infra shares amid positive global sentiments.

The BSE Sensex soared 941 points or 1.28 percent to settle at 74,671 points, while the Nifty-50 rose 223 points or one percent to close at 22,643.

From the Sensex basket, ICICI Bank climbed nearly 5 per cent after quarterly results. IndusInd Bank, UltraTech Cement, State Bank of India and Axis Bank were other major gainers.

On the other hand, HCL Technologies tanked nearly 6 percent after the company reported a flat year-on-year growth in net profit in the March quarter at Rs 3,986 crore.

ITC, Wipro and Bajaj Finserv were the other laggards.

In the broader market at the BSE, the Midcap sector jumped 0.79 per cent, while the Smallcap sector gained by 0.07 per cent. 

In sectoral indices at the BSE, the Bankex sector gained 2.70 percent, the Financial Services sector gained 1.80 percent and Utilities sector rose 1.10 percent.

In contrast, Realty sector fell one percent and Services sector slipped 0.8 percent.