The Sensex gained 685 points and the Nifty 220 points on October 6.
Brent crude fell below $100 a barrel, which supported sentiment.
Strong Q2 updates from Honasa Consumer, Meesho, Trent and Dabur also helped.
Global cues were supportive, according to Business Today.
The RBI’s policy decision is due on Wednesday.
The Nifty gained 220.35 points, or 0.98%, to settle at 22,776.10.
It was the second straight session of gains for both benchmarks, according to Business Standard and HDFC Sky.
The benchmarks had earlier suffered their longest weekly losing streak in 25 years, according to the same reports.
Fourteen of the 16 major sectoral indices on the NSE ended in positive territory.
The BSE capital goods index rose 1,333 points to 75,749, the pharma index gained 552 points and the Bankex rose 330 points to 62,118.
Nifty Bank, consumer durables, energy, infrastructure, media, FMCG, metal, pharma, oil and gas, private bank and telecom indices gained between 0.5% and 2%.
Trent, Kotak Mahindra Bank, Hindustan Unilever, Reliance Industries, IndiGo, Eterna and Asian Paints were among the gainers, according to Business Today.
Tech Mahindra, Titan, Bajaj Finance and ITC were among the losers, with the biggest fall at about 2.3%.
The market capitalisation of BSE-listed companies reached Rs 473.61 lakh crore.
Sentiment was helped by supportive global cues and a fall in Brent crude to below $100 a barrel, according to Business Today.
Strong Q2 business updates from Honasa Consumer, Meesho, Trent and Dabur also supported investor confidence.
The Reserve Bank of India’s Monetary Policy Committee announces its decision on Wednesday, October 7, at 10 am.
Markets largely price in a 25-basis-point increase in the repo rate, which would be the first rate hike since 2023.
The MPC has kept the repo rate unchanged at 5.25% in its last four policy reviews, after cumulative cuts of 125 basis points in 2025.
Bombay Stock Exchange building, Mumbai (file image), Wikimedia Commons, CC BY 2.0
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