Sensex on Wednesday surged 337 points as investors bought stocks available at lower levels, amid firm trend in global markets.
"The global bullishness stemmed from the fact that Germany and France had reached an agreement to increase the firepower of Europe's bailout fund," Bavishi said.
Key indices in Hong Kong, Japan and South Korea closed with gains while those in China, Taiwan and Singapore ended slightly weak.
However, European stocks were trading higher in the afternoon. The CAC, the DAX and the FTSE were trading nearly 1 percent higher.
Meanwhile, back home, after injecting Rs 397.50 crore on October 17 as per Sebi data, FIIs pulled out Rs 285.19 crore Tuesday.
Major gainers from the Sensex-pack were DLF 4.16 percent, L&T (3.74 percent), Jaiprakash (3.33 percent), Wipro (3.23 percent), Sun Pharma (3.09 percent), Tata Motors (3.04 percent), SBI (2.99 percent), Bharti Airtel (2.91 percent), ICICI Bank (2.88 percent), RIL (2.72 percent), Jindal Steel (2.68 percent), Sterlite Ind (2.10 percent), NTPERCENT (2 percent), ONGC (1.80 percent), Hindalco (1.75 percent), Coal India (1.58 percent), TCS (1.47 percent), ITC (1.40 percent), Tata Steel (1.39 percent) and Infosys (0.89 percent).
From the sectoral indices, BSE-Realty spurted 3 percent, Bankex (2.69 percent), Oil&Gas (2.27 percent), Capital Goods (2.02 percent), Auto (1.81 percent) and Metal (1.80 percent).
The total market breadth on the BSE turned positive asd 1,670 stocks closed in the green, while 1,136 ended in the red. The total turnover rose to Rs 2,448.33 crore from Rs 2,200.43 crore Tuesday.