In the cash market, the Nifty 50 rallied 369.85 points or 1.64% to 22,967.65.
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, shed 0.40% to 21.38.
HDFC Bank, ITC and State Bank of India were the top traded individual stock futures contracts in F&O segment of NSE.
The May 2024 F&O contracts will expire on 30 May 2024.