Nifty Smallcap 100 index surged over 2%, extending its two-day rally to 3.5% after a whopping seven-session decline. The index fell nearly 10% during the seven-session fall.
The gains on the index were led by Ola Electric, Sona Comstar, Onesource Specialty Pharma, which climbed 11.76%, 9.66% and 8.34%, respectively.
Ather Energy, Welspun Corp and Data Patterns were the other gainers by rising 7.38%, 6% and 5.8%< respectively.
The rise in the electric scooter makers' shares came on the back of strong results by Ather Energy.
The Rizta scooter maker posted second-quarter net profit of Rs 1.5 crore, compared with a loss of Rs 154 crore a year earlier.