Inching closer to its all-time intraday high, Sensex was trading 0.55 per cent higher during early trade.
After hitting a high of 40,178.12, the 30-share index ended 220.03 points, or 0.55 per cent, higher at 40,051.87.
The scrip of India's largest private airline, IndiGo, climbed 5.36 per cent to Rs 1,485.95 on the BSE.
The broader NSE Nifty advanced 35.85 points, or 0.30 per cent, to 11,822.70.
The 30-share Sensex soared over 666 points before settling 581.64 points, or 1.48 per cent, higher at 39,831.84.
Tata Motors was the top gainer in the Sensex pack, rallying over 13 per cent, after the company posted strong quarterly results.
The ICICI Bank scrip rose 1.95 per cent to Rs 478.60 -- its 52-week high -- on the BSE.
RIL rose over 1 per cent Tata Steel, M&M, Vedanta, TCS and Maruti too advanced up to 3 per cent.
The 30-share Sensex swung over 523 points before settling 37.67 points, or 0.10 per cent, higher at 39,058.06.
After hitting a high of 39,241.61, the 30-share index was trading 137.92 points, or 0.35 per cent, higher at 39,158.31.