The 30-share BSE index ended 396.22 points or 1.03 per cent up at 38,989.74 . While, the broader NSE nifty ended 133.10 points or 1.22 per cent up at 11,573.30.
Top gainers in the sensex pack include Vedanta, M&M, Tata Steel, ICIC Bank, ONGC, Maruti, IndusInk Bank, LT and Kotak Bank, with their shares rising as much as 6.95 per cent. 23 out of 30 stocks ended in green.
While, Yes Bank, Infosys, Hindustan Unilever, HCL Tech, HDFC, NTPC, Power Grid and TCS were the losers in the sensex pack — with their stocks sliding up to 4.93 per cent.
On NSE, except for Nifty IT, all other sub-indices ended in green — led by Nifty Metal, Realty, Auto and Media, rising up to 4.32 per cent.
Donald Trump on Wednesday said that a deal to end a nearly 15-month trade war with China “could happen sooner” than people think, which would remove a huge shadow over the global economic outlook.
The market rose further as September futures and options expired, experts said, adding that investors were also optimistic ahead of the Reserve Bank’s policy review meet next week.
“After correcting, markets have rebounded aided by the positive global cues,” Deepak Jasani, head of retail research at HDFC Securities told news agency Reuters.
“However, markets may consolidate, rather than pick a trend in either direction for the next couple of sessions,” he added.
Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net of Rs 342.40 crore, and domestic institutional investors offloaded equities worth Rs 762.48 crore, provisional data on Wednesday showed.
(With agency inputs)