However, Reliance Industries which unveiled massive capex plans in its annual general meeting was the biggest drag on bourses.
At the closing bell, the BSE S and P Sensex was up by 393 points or 0.75 per cent at 52,699 while the Nifty 50 ticked higher by 104 points or 0.66 per cent to 15,790.
Sectoral indices at the National Stock Exchange were mixed with Nifty IT gaining by 2.8 per cent and private bank by 0.8 per cent.
Among stocks, Infosys rose by 3.5 per cent to Rs 1,556.10 per unit. Tata Consultancy Services moved up by 3.3 per cent to Rs 3,370 per share while Tech Mahindra gained by 2.2 per cent to close at Rs 1,080.
JSW Steel, Tata Steel, ICICI Bank, Larsen and Toubro, Asian Paints and Nestle India too were in the green. But Reliance Industries fell by 2.6 per cent to close at Rs 2,147.80 per share.
IndianOil Corporation, Coal India, Bharti Airtel, ONGC, Bharat Petroleum Corporation, Cipla and Eicher Motors too ended in the red zone.
Meanwhile, Asian shares marked time as investors reassessed US Federal Reserve statements on inflation and looked to upcoming data for direction.
Hong Kong stocks ended 0.23 per cent higher as energy, IT shares gained. South Korean stocks jumped 0.3 per cent up at record high as chip giants rose but Japan's Nikkei ended the day at flat level.
Mumbai, June 24
Equity benchmark indices drifted higher on Thursday due to heavy buying in IT stocks along with support from banking and metal stocks.
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