All sectoral indices, led by realty, PSU, oil & gas and banking, were in positive zone with gains of up to 1.25 per cent.
The Sensex soared 402 points higher to end at 25,720 and the Nifty surged 130 points to close at 7,819.
Stocks of companies having operations and exports to Europe were the top losers.
The local markets are expected to react to global triggers until the government announces the Union Budget.
IT shares lost ground tracking a sell-off in tech stocks on Nasdaq on Friday
IT exporters were the top gainers amid a weak rupee along with select index heavyweights.
Financials were the top losers while oil shares also declined amid weak crude oil prices.
The S&P BSE Sensex shed 286 points to close at 24,539 and the Nifty50 lost 100 points to end at 7,456.
Month-end dollar demand from importers resulted in the rupee touching a new all-time low on Wednesday against the dollar.
Markets in countries whose economic fortunes were closely linked to China's growth tumbled.
Bank of Baroda ended flat after sharp gains in the previous session.
The S&P BSE Sensex slipped 305 points to end at 25,400 and the Nifty50 dropped 87 points at 7,783.
Capital Goods shares ended mixed on the back of weak IIP numbers. L&T ended down 0.7% while BHEL ended with marginal gains.
Metal shares were the top gainers with Hindalco up over 5%.
Index heavyweight RIL surged 3% to end above Rs 1,000 mark while IT majors were also the top gainers.
Positive cues from the global market front aided the rally.
Infosys, TCS, ICICI Bank and Sun Pharma among the top losers of the hour.
The breakdown of talks between Greece and its international creditors raised fears of Greece's exit from the euro zone.
Banks, real estate and metal scrips among the top losers.
Sensex in green, midcaps, smallcaps fail to show up; bluechips rule.
Being employee light is the latest fad.
Markets crashed due to domestic worries; bluechip stocks tanked too.
Markets shrugged off RBI's neutral stance on key policy rates.
S&P upgraded India's credit outlook to 'stable' from 'negative' earlier.
Nifty September F&O series ended lower after seven consecutive positive series with Metal Index falling the most
Investors booked profit ahead of the outcome of the two-day US Fed policy meet which begins today.
Sensex, Nifty put up a good show in closing trade.
HDFC, TCS, RIL, ITC and ICICI Bank dragged the Sensex by over 100 points.
The 30-share Sensex ended down 245 points at 28,799 and the 50-share Nifty closed down 81 points at 8,750
The broader markets are trading inline with the larger peers with BSE Midcap and Smallcap indices up 1.5% each.
Telecom shares rallied on hopes that they would hike tariffs after huge investments to acquire spectrum.
HDFC twins, Axis Bank, ICICI Bank and SBI from the financial space gained between 1-2.7%.
Decline in the rupee coupled with a slide in the crude oil prices have dented the sentiments.
SBI, PNB, Bank of Baroda, Canara Bank, Dena Bank, Central Bank of India ended down 3%-12% each.
Markets ended lower for the third straight day on Tuesday weighed down by profit taking in rate sensitives with bank shares leading the decline after hopes of rate cut by the central bank faded.
The S&P BSE Sensex gained 115 points to end at 24,338 and the Nifty50 climbed 42 points to close at 7,404.
Sensex ended up 190 points at 25,519 and Nifty climbed 57 points to end at 7,626.
Sun Pharma was the top gainer after SPARC received Sebi nod to raise up to Rs.250 crore through a rights issue
The 30-share Sensex ended down 604 points at 28,845 and the 50-share Nifty ended down 181 points at 8,757. The Bank Nifty ended down 602 points at 19,146.
Investors accumulated quality stocks at valuable and attractive levels.