Mumbai: The Indian stock markets closed on a strong note on Thursday, with benchmark indices Sensex and Nifty surging over one per cent each, led by gains in banking and heavyweight stocks. The benchmark index reflected strong investor confidence, underpinned by the apparent stability of the Middle East ceasefire, which has eased concerns over potential supply chain disruptions.Further growing optimism following easing geopolitical tensions and buying in market heavyweights HDFC Bank and Reliance Industries also boosted investor sentiment.

The Sensex jumped 1,000.36 points, or 1.21 per cent, to settle at 83,755.87. During the session, the index moved in the range of 995.83 points touched an intra-day high of 83,812.09 and a low of 82,816.26.During the day, it surged 1,056.58 points or 1.27 per cent.

The Nifty also gained 304.25 points, or 1.21 per cent, to close at 25,549.00. It hit an intra-day high of 25,565.30 and a low of 25,259.90 during the day.

“Nifty has given a decisive move above the recent consolidation on the daily chart, indicating growing optimism among traders and investors,”Rupak De of LKP Securities said.

“Now that the index has broken above the consolidation zone, we continue to maintain our bullish view going forward,” he added.

Among the Nifty stocks, Shriram Finance, Tata Steel, Bharti Airtel and Hindalco Industries were the top gainers, rising between 2.48 and 3.69 per cent.

On the other hand, Dr Reddy’s Laboratories, Tech Mahindra, Wipro, SBI, and Hero MotoCorp were the top laggards, slipping between 0.45 and 1.31 per cent.

In the broader markets, the Nifty Midcap100 and Nifty Smallcap100 indices ended lower, falling 0.59 per cent and 0.42 per cent, respectively, indicating some pressure in mid- and small-cap stocks.