Sun Pharma stole the show in the Sensex pack, spurting 3.91 per cent, followed by M&M at 2.87 per cent.
Both the indices ended at their highest levels since February 1.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
The broader NSE Nifty, after cracking below the key 10,300-mark, touched a low of 10,211.25, before finally ending 134.75 points, or 1.30 per cent, down at 10,226.55.
The Sensex finally finished with a gain of 58 points at 3,726. The Nifty advanced 24 points to 1,163.\n\n\n\n
'This market is very expensive in some pockets, dirt cheap in some, and the belly of the market is reasonably valued.'
The broader NSE Nifty cracked below the key 10,400-mark to touch a low of 10,336.30, before finally ending 15.95 points, or 0.15 per cent, down at 10,410.90.
The broader NSE Nifty too reclaimed the key 11,500-mark. It touched a high of 11,562.25, before finally settling at 11,536.90, showing a gain of 59.95 points, or 0.52 per cent.
The 30-share Sensex stayed in the green for the better part of the session and hit the day's high of 38,297.70 as buying pace gathered momentum towards the fag-end.
The NSE Nifty too ended 58.60 points, or 0.54 per cent, higher at 10,967.30 after shuttling between 10,985.15 and 10,928 during the session.
The BSE Sensex moved up 103 points to 35,319.35, while the wider NSE Nifty finished at 10,741.70, up 23.90 points.
The Sensex took just five trading sessions to surpass the 36,000-level milestone, from 35,000.
Construction major L&T was the biggest gainer among the Sensex components, spurting 2.30 per cent, after the company said its board has approved a Rs 9,000-crore share buyback plan.
The 50-stock NSE barometer Nifty finished 22.50 points, or 0.21 per cent, down at 10,526.20
This is the highest closing for both the indices since May 15.
NSE Nifty, after shuttling between 10,809.60 and 10,725.90, finished 30.95 points, or 0.29 per cent lower at 10,741.10.
At the BSE, 1,791 stocks declined, while 948 advanced, 110 stocks remained unchanged.
From the 30-Sensex pack, 26 stocks ended with gains led by Tata Steel and ICICI Bank
Profit-booking by participants in view of the domestic markets' recent record-setting run fuelled the downtrend
Other than ITC, other laggards include PowerGrid, Infosys, M&M, NTPC, SBI, HDFC, Kotak Bank, HDFC Bank, TCS, Hero MotoCorp, Coal India, ONGC, RIL, Asian Paint, IndusInd Bank, ICICI Bank, Maruti Suzuki, Bajaj Auto, Tata Motors, Bharti Airtel and Axis Bank.
The Nifty closed at 10,335.30, down 28.35 points, or 0.27 per cent.
Sentiment was hurt after market regulator Sebi directed bourses to initiate action against 331 suspected shell companies.
Muted global trend after a report that US President Donald Trump was preparing to impose more tariffs on China hurt trading sentiments.
Investors booked profits after strong 641-point rally in the previous two sessions, brokers said.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Most of the session's gains for both the indices were wiped out as investors rushed to book profits ahead of F&O expiry on Thursday and also due to concerns over stretched valuations.
The Sensex and Nifty remained above their key levels of 36,000 and 10,900 throughout the session, indicating strong investor optimism after a prolonged spell of caution.
Notable losers were ONGC, Axis Bank, ITC, SBI, ICICI Bank, NTPC, Hero Motocorp, Sun Pharma and Bharti Airtel who fell by up to 2.80 per cent.
The broader NSE Nifty scaled a high of 10,856.55 before closing up by 55.90 points, or 0.52 per cent
Sun Pharma was the biggest gainer in the Sensex pack, advancing 1.79 per cent.
At the close, the 50-share NSE Nifty was at 8,611.15, up 19.90 points, or 0.23 per cent, after moving between 8,637.15 and 8,555.20.
The NSE Nifty went past the 8,600-mark for the first time since November 1.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
TCS, Wipro and Infosys dropped by up to 4.47 per cent, dragging down the BSE IT index by 2.96 per cent
The fall came on the back of a massive selloff in NBFCs, led by DHFL which skidded over 50 per cent on fears of a liquidity crisis.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
In the Sensex kitty on Wednesday, Tata Motors emerged as the top loser falling 3.01 per cent, followed by Vedanta shedding 2.92 per cent. Other laggards include HUL, Kotak Bank, NTPC, Infosys, HDFC Bank, Bajaj Finance, Hero MotoCorp, ICICI Bank, Yes Bank, HDFC, IndusInd Bank and PowerGrid, falling up to 1.77 per cent.
The NSE 50-share Nifty spurted 97.25 points, or 0.92 per cent, to 10,715.50
The 50-share NSE Nifty ended at 9,143.80, up 43 points, or 0.47 per cent, after moving between 9,153.15 and 9,109.10.
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