Sensex shot up by 919 points on Friday to close at 77,550, while Nifty 50 ended at 24,050, both up about 1.2%.
Banking and financial stocks led the charge, with most sectors (except IT) seeing solid gains.
Domestic investors stepped in big time: mutual funds recorded their highest inflows in eight months even as foreign investors slowed their selling.
Plus, falling crude oil prices helped ease worries about inflation and fuel costs, a welcome relief for everyone watching their budgets.