The Sensex opened higher at 4235.56 points, which happened to be day's lowest level and reached near the crucial level of 4300 mark at 4298.60 points before closing at 4284.98 points, gaining 65.50 points compared to Tuesday's close of 4219.48 points. Nifty also gained 23.15 points and closed at 1356.50 points as compared to previous close of 1333.35 points. Brokers said the market is displaying a healthier trend despite some weaknesses shown by Nasdaq, which lost more than 90 points on Tuesday. It opened higher and could sustain the gains which indicates the rally could continue for some more time to come before a correction is experienced.

Technology stocks as well as some other key stocks have reached the price level and attracted huge volumes levels, which was seen when the benchmark was hovering around 5500 points level in Nov-Dec 1999. Sensex heavyweights like RIL, HLL and ITC also posted handsome gains compared to their previous close of Tuesday. RIL gained Rs 3.35 to close at Rs 347.40, HLL was up from Rs 189.25 to close at Rs 191.20 and ITC continued it's upward march from Rs 902.10 to close at Rs 918.55. Cements stocks were in limelight again on Wednesday despite the news of a probe initiated by DCA against the alleged cartel of manufacturers. ACC was the top gainer in the index stocks. It gained Rs 7.35 and closed at Rs 163.10, Grasim Industries gained Rs 12.45 to close at Rs 291.20, Guj Amb cements also gained RS 6.45 and closed at Rs 164.80, L&T gained Rs 4.55 to close at Rs 203.60. PSU stocks MTNL was up by Rs 7.65 to close at Rs 188.80, while SBI gained Rs 5.75 to close at Rs 199.10. Among the technology stocks NIIT gained Rs51.10 to close at Rs 1899.25, Satyam Computers crossed the crucial Rs 400 mark and gained Rs 9.70 to closed at Rs 403.50 and Infosys Technologies also succeeded in surpassing an important resistance level of Rs 7400 by gaining Rs 163.85 to close at Rs 7623.30. Aluminium major Hindalco also figured in the list of prominent gainers with a gain of Rs 25.55 to close at Rs 775.90.

FMCG and pharma counters were the losers, though marginal, on account of profit booking besides refinery stock HPCL. Glaxo India was down at Rs 470.60, Ranbaxy Laboratories was down at Rs 757.70, Colgate was down at Rs 172.70, Nestle was down at Rs 523.85 and HPCL was down at Rs 145.20.