Equity benchmark BSE Sensex gained over 600 points to cross the 41,000 mark on Thursday as global markets rebounded following the US conciliatory note against Iran on Wednesday. 

President Donald Trump's speech seeking de-escalation of tensions in West Asia even as Iran fired missiles at US bases in Iraq as retaliation to the killing of top Iranian commander Qassem Soleimani. 

BSE Sensex closed at 41,452.35, up by 634.61 points or 1.55%. The broader NSE Nifty surged 190.55 (1.58%) to close at 12,215.90.

Tata Motors, ICICI Bank and SBI were top gainers, rising by 5.18%, 3.80% and 3.25% respectively. 

TCS, was the top loser, with its share price going down by 1.73%.

Experts believe that the turnaround was witnessed after de-escalation in Iran-US tensions. Equities on Wall Street also ended on a positive note on Wednesday.

Commenting on Thursday's market performance, Shrikant Chouhan, Senior Vice-President, Equity Technical Research, Kotak Securities, said, “Stock markets bounced back sharply on easing of crude prices and recovery in domestic currency. Crude prices eased from the high of $70 a barrel to $65 per barrel post the US President Donald Trump's conference that indicated signs of cooling tension between USA and Iran."

"These two positive developments triggered a 130 point plus opening for the benchmark Nifty. The index ended the day 190 points higher at 12215 or 1.58% higher, while Sensex closed 634 points higher at 41452. Strategy should be to buy on dips at levels around 12150 and 12100 where risk-reward ratio is quite favorable. The markets are into overbought zones, hence fresh long positions should be avoided at current levels. On the sector front, auto-related stocks should be in focus," he said. 

Nagaraj Shetti, Technical & Derivative Analyst, HDFC Securities, said, "After showing a promising upside bounce from the lows in the last session, the Nifty witnessed a hefty gains today and closed higher."

"A long bull candle was formed today with gap up opening and closed near the highs. The opening upside gap remains unfilled. Technically, this action indicates a strong comeback of bulls and this pattern seems to have nullified the negative status created by the panic selling of 6th Jan 2020," he said.