Indian equities indexes extended their winning streak on Wednesday for the fourth straight day. Strong U.S. business profits and the anticipated restart of Russian gas delivery to Europe eased concerns about a recession, causing stocks to trade around a three-week high.

Investor mood was also buoyed by the government's decision to reduce windfall taxes on the export of petroleum and fuel. Reliance Industries, an index heavyweight, and other energy stocks that will benefit from the move jumped.

The NSE Nifty gained 180 points or 1.1% to close at 16,521, while the 30-share BSE Sensex rose by 630 points or 1.15 percent to close at 55,398. Small- and mid-cap shares also performed well at the close, rising 0.81 percent and 0.19 percent, respectively, for the Nifty Midcap 100.
The NSE's 12 sector gauges finished in the green. The NSE platform was outperformed by the sub-indices Nifty IT, Nifty FMCG, and Nifty Oil & Gas, which saw increases of up to 2.93%, 1.13%, and 1.02%, respectively. 

The highest Nifty gainer was ONGC, whose share price increased by 3.71 percent to 132.65. Other winners included Tech Mahindra, TCS, HCL Technologies, and Reliance. Positive market breadth was seen overall, with 1,926 equities on the BSE rising and 1,429 falling.

The 30-share BSE index saw gains of up to 3.61 percent for TechM, HCL Tech, TCS, Reliance, SBI, Infosys, Hindustan Unilever, Wipro, Titan, HDFC Bank, Nestle India, and IndusInd Bank, making them among the top gainers.  ON the other hand, M&M, Sun Pharma, Kotak Mahindra Bank, Asian Paints, Bharti Airtel, Bajaj Finserv, Bajaj Finance, PowerGrid, NTPC, and Dr. Reddy's,  posted negative results.

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