After yesterday's drop, the Indian equity benchmarks rebounded sharply with gains from bank and metal shares. This was a result of RBI's decision to keep the interest rates unchanged in its first monetary policy meet for the financial year.

The National Stock Exchange's (NSE) Nifty 50 rose by 1.9% or 197 points to 10,325. This is the most since May 26, 2016. S&P BSE Sensex was up by 577.73 points or 1.75% to 33,596.80.

The market experienced a positive result as the trade tensions between two of the biggest economies China and the US have eased as the countries signaled a possible room for talks.

All sectors indices in NSE ended at a higher note with Nifty PSU Bank Index in the lead experiencing 5% gain. Nifty Metal index was up by 4%.