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BSE Sensex gained 418.45 points, or 0.67 per cent, to settle at 63,143.16, while NSE's Nifty50 gained 114.65 points, or 0.62 per cent, to end the session at 18,716.15 for the day.
Sensex and Nifty 50 closed higher with buying in IT, auto, consumer durables, metal, and oil & gas stocks. Banking stocks were under pressure.
Harresh Mehta has said he has no connection with any transaction between Rajput Retails and the SBI.
Harresh Mehta of Rohan Developers (Rohan Lifescapes) was arrested by CBI on May 20 and produced before the court wherein he was kept in police custody until May 24 and then sent to judicial custody.
The CBI's EOW Mumbai unit initiated the probe in 2016 based on a complaint filed by the Thane branch of the State Bank of India (SBI) against the directors of Rajput Retail Ltd (RRL), Vijay Gupta, and Ajay Gupta.