At the close of market hours, the Sensex closed up 179.79 points or 0.51% at 35649.94, while the Nifty was up 66.40 points or 0.62% at 10729.90.
Bulls made a roaring comeback on a day that looked like a bearish day. A sharp recovery across sectors, particularly in the broader markets, helped the indices end sharply higher.
The Nifty clocked 10,700 again and ended above that mark.
The day began on a bearish note, with indices giving up key levels. Further weaknesss happened through the day, with the Sensex plunging 400 points. However, bulls staged a tough comeback to end the session on a high.
Among sectors, maximum surge was seen among banks and infrastructure names, while IT and pharmaceuticals lost the most.
At the close of market hours, the Sensex closed up 179.79 points or 0.51% at 35649.94, while the Nifty was up 66.40 points or 0.62% at 10729.90. The market breadth was negative as 1089 shares advanced, against a decline of 1441 shares, while 155 shares were unchanged.
Airtel, Adani Ports, and Zee were the top gainers, while Sun Pharma and Yes Bank lost the most.
Stocks in the News
Shares of Hindustan Unilever (HUL) rose half percent after falling 2 percent after the National Anti-Profiteering Authority (NAA) slapped a Rs 383 crore fine for GST profiteering.
Shares of Maruti Suzuki dropped over 1 percent intraday and gained half a percent after the company said it is recalling 5,900 Super Carry vehicles over a possible defect in the fuel filter.
Lupin shares slipped nearly 1 percent after global brokerage house PhillipCapital has reiterated sell call on the stock with a target price at Rs 670, implying 20 percent potential downside.
Hindustan Petroleum Corporation, Bharat Petroleum Corporation, Indian Oil Corporation, Jet Airways and SpiceJet shares gained 1-3 percent on Wednesday after sharp fall in crude oil prices amid global growth concerns.
Autoline Industries shares rallied 1 percent after the company decided to sell land & building in Chakan unit in Pune to reduce debt burden.
National Fertilizers shares rallied 1 percent after the company signed loan agreement with country's largest lender State Bank of India.
Japanese stocks saw gains on Wednesday following a Christmas Day plunge of both the Nikkei 225 and Topix.The Nikkei 225 gained 0.89 percent to close higher at 19,327.06, while the Topix index saw gains of 1.12 percent to finish its trading day at 1,431.47.