The 30-share BSE Sensex surged 235.44 points to close on 31,449.03 while the 50-share NSE Nifty went up 83.35 points to close at 9,794.15. Nifty, thus came close enough to regain the psychological mark of 9,800.

The markets have been volatile since the Reserve Bank of India (RBI) cut key interest rates. Coupled with a Sebi directive to bourses for stalling the trading of 331 shell companies and geopolitical tensions, the markets saw five weak sessions in the previous week