Both the benchmark indices gained ground and closed in the black as strong gains in index heavyweights like Reliance Industries, ONGC Ltd, ICICI Bank and SBI provided the much-needed support.
The 30-share Sensex of the Bombay Stock Exchange (BSE) Ltd closed above the 8,600-mark at 8,649.52, gaining 53.60 points. The Sensex is now just 150 points away from its all-time closing high of 8,799.96 achieved on October 4.
The broader S&P CNX Nifty of the National Stock Exchange (NSE) ended the day above the 2,600-mark at 2,603.95, up 21.20 points.
The market breadth was almost balanced as there were 1,272 declines compared 1,233 advances. The turnover on BSE and NSE was higher at Rs 3,022.90 crore and Rs 6,036.41 crore, respectively.
While, FIIs were net buyers in the cash market at Rs 145.30 crore on Wednesday, in the derivatives segment, they sold equities worth Rs 23.65 crore.
Technology stocks did witness some weakness after registering impressive gains in the last couple of sessions.