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PowerGrid was the top gainer in the Sensex pack, surging over 4 per cent, followed by Bharti Airtel, Tata Steel, NTPC, HDFC Bank, UltraTech Cement and Kotak Bank.
On the other hand, TCS, Nestle India, Reliance Industries and HCL Tech were among the laggards.
Extending its gains for the fourth session, equity benchmark Sensex ended 163 points higher on Wednesday, led by index majors HDFC twins and ICICI Bank.
After gyrating 825.54 points in a highly volatile session, the 30-share BSE index ended 162.94 points or 0.40 per cent higher at 40,707.31.
Similarly, the broader NSE Nifty rose 40.85 points or 0.34 per cent to finish at 11,937.65.
PowerGrid was the top gainer in the Sensex pack, surging over 4 per cent, followed by Bharti Airtel, Tata Steel, NTPC, HDFC Bank, UltraTech Cement and Kotak Bank.
On the other hand, TCS, Nestle India, Reliance Industries and HCL Tech were among the laggards.
"Domestic indices managed to close in the green, but not without its share of hiccups over rumours on waiver of interest on loans," said S Ranganathan, Head of Research at LKP Securities.
Banks and metals provided support even as several stocks saw profit booking during afternoon trade, he added.
Bourses in Hong Kong, Tokyo and Seoul ended on a positive note, while Shanghai was in the red.
Stock exchanges in Europe opened on a negative note after the UK government reported that its borrowing rose to the highest level on record in the first half of the financial year.
In the forex market, the rupee pared its initial gains and depreciated 9 paise to close at 73.58 against the US dollar.
Photograph: Shailesh Andrade/Reuters