The broader markets ended firm with mid-caps and small-caps gaining nearly 0.5 per cent on the BSE.
Ends the August F&O series on a high tracking gains in RIL, HDFC and ITC.
Indian equity markets registered their highest single-day percentage gains since early October.
SBI, PNB, Bank of Baroda, Canara Bank, Dena Bank, Central Bank of India ended down 3%-12% each.
Financials declined amid profit taking while energy shares fell after the government hiked excise duty on transport fuels.
The benchmark Nifty rallied 1,000 points or 17% from 7,000 in 78 trading sessions since May 12, till date to surpass the 8,000 mark.
The S&P BSE Sensex gained 115 points to end at 24,338 and the Nifty50 climbed 42 points to close at 7,404.
Markets shrugged off RBI's neutral stance on key policy rates.
RBI's fifth bi-monthly monetary policy meet due tomorrow also kept the investors on their toes.
Above normal monsoon forecast and strength in Asian equities lifted sentiments.
On the sectoral front, rate-sensitive sectors such as Bankex and Auto gained by 1% and 0.7% respectively while BSE Consumer Durables gained 1.4%.
Stellar rally in ITC shares along with strength in the Asian equities capped the downside.
IIP for November 2015 and CPI for December 2015 will be announced today.
Investors accumulated quality stocks at valuable and attractive levels.
ONGC was the top gainer which surged over 4% followed by Axis, SBI, CIL
Bank shares were the top losers after sharp gains last week.
Banks and realty among the most hit on account of high borrowing costs.
Banks stocks continued to trade weak along with FMCG major ITC.
IT shares lost ground tracking a sell-off in tech stocks on Nasdaq on Friday
Investors widened their bets on optimism that upcoming general budget -- to be unveiled next month - would contain incentives for corporates, which will help boost the economy
The Sensex ended up 48 points at 28,386 and the Nifty gained 13 points to close at 8,476.
Investors cheered a sharp decline in the Current Account Deficit, which stands at a 4 year low as exports picked up and gold imports reduced.
Bank shares were the top gainer in early trades with Bank of Baroda up over 4%.
Investors turned cautious ahead of the US Fed meet outcome later today and July F&O expiry.
The S&P BSE Sensex slipped 305 points to end at 25,400 and the Nifty50 dropped 87 points at 7,783.
Among the private banking majors ICICI Bank and HDFC Bank were down 0.2%-0.5% 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.
Investors booked profit ahead of the outcome of the two-day US Fed policy meet which begins today.
Sensex, Nifty end lower on global concerns.
Investors engaged in profit booking in the recent gainers at attractive and higher valuations.
Infosys, Tata Motors, ONGC, TCS and GAIL are the top 5 losers.
The Sensex ended in red on domestic concerns.
The 30-share Sensex ended down 245 points at 28,799 and the 50-share Nifty closed down 81 points at 8,750
Growth in the eight core sectors jumped to 8.5% in April, due to a sharp pick-up in refinery products and a commensurate rise in electricity generation.
The Sensex ended lower on unfavourable cues.
The broader markets ended mixed with mid-caps gaining 0.1 per cent and small-caps falling 0.1 per cent on the BSE.
The broader markets are trading inline with the larger peers with BSE Midcap and Smallcap indices up 1.5% each.
The banking, oil and metal sectors were the top sectoral losers on the BSE, while IT stocks rendered support at lower levels.
The main losers on the Sensex were Tata Steel, Hero Moto, BHEL, ONGC & Maruti Suzuki.
The 30-share Sensex ended up 12 points at 28,517 while the 50-share Nifty ended nearly unchanged at 8,660.
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