During early trade, the 30-share BSE benchmark Sensex opened in the green and climbed 1,595.14 points, or 2.91 percent, to 56,242.47. However, it gave up some of its early gains as the week progressed, owing to poor European markets and a rebound in oil prices. The Sensex ended the day at 55,464.39, up 817.06 points, or 1.50 percent. Similarly, the NSE Nifty closed at 16,594.90, up 249.55 points or 1.53 percent.
Hindustan Unilever Limited, Tata Steel, State Bank of India, Axis Bank, IndusInd Bank, Bajaj Finserv, Nestle, and Maruti Suzuki India were the top gainers among the 30-share Sensex group, gaining up to 5.17 percent. Tech Mahindra, Dr. Reddy's Laboratories, and Tata Consultancy Services, on the other hand, were the laggards.
The 14 sectoral strocks on the NSE settled in the green zone. Nifty FMCG, Nifty PSU Bank, and Nifty Metal all beat the index, climbing 3.03 percent, 2.33 percent, and 2.28 percent, respectively, to surpass the index. Nifty Media also increased by up to 4.05 percent. Nifty Metal, on the other hand, fell 0.34 percent.
Meanwhile, Brent crude, the international benchmark for oil, rose 4.91 percent to $116.6 a barrel.
According to exchange statistics, foreign institutional investors maintained their selling binge in Indian markets on Wednesday, offloading shares worth Rs 4,818.71 crore on a net basis.
Indices maintain their sharp gains; the Sensex gains over 1,2500 points.
A surge in commodity prices could push CAD to 2.8pc GDP in Q3
