The Sensex gained 749.85 points, or 1.53 percent to 49,849.84, while the Nifty ended at 14,761.55, up 232.40 points, or 1.60 percent. Broader indices closed higher, with the Smallcap index outperforming the benchmarks, ending 2 percent higher. All sectors also ended in the green for the day led by Nifty Auto, which rose 2.4 percent.