The Sensex, which recorded a rise of over 1,650 points in last three trading sessions, shot up by 838.08 points to close at 14942.28. The hefty gain was the first after an intra-day rally of 890 points on February 14, this year. The wide-based National Stock Exchange index Nifty spurted by 237.60 points at 4477.80 points at the same time as almost all the 50 stocks in its kitty were in positive zone.

banking stocks were distinctly higher after the coalition government's victory in a Parliamentary vote stoked speculation that new allies may permit changes to investment limits.

the victory allows a mandate to revive bills in insurance and banking that had been held up under Left's pressure, who recently withdrew support to the government, as well as give overseas companies a bigger role in the financial sector.