The Nifty surged 206.90 points, or 1%, to close at 20,096.60. The Sensex advanced 727.71 points, or 1.10%, to close at 66,901.91. Automobiles, banks and IT stocks were the top gainers with Axis Bank surging 3.9%, M&M rising 3.4% and Wipro moving up 2.3%.