Indian stock markets ended with strong gains on Wednesday owing to a massive short covering seen in banking and financial stocks ahead of the May expiry. Global markets also lifted investors' sentiment. The Sensex jumped almost 1,000 points and the Nifty spiked 3.17% to end above 9,300. Axis Bank, ICICI Bank, Wipro, Grasim and Bajaj Finance were the top five market movers. Bank Nifty swelled 7.28%. The rupee depreciated 5 paise to settle at 75.71 against the US dollar.