The broader market outperformed with the S&P BSE Midcap down 0.3%, while the S&P BSE Smallcap was little changed.
Shares of rate sensitive sectors such as realty, infrastructure, banking and automobiles ended higher ahead of the Reserve Bank of India (RBI) mid-quarter policy review on June 17.
The S&P BSE Sensex surged 217 points to end at 25,736.
ICICI Bank, HDFC Bank, IndusInd Bank down between 0.2%-1.4% each.
Infosys was the top Sensex loser along with other index heavyweights ITC and HDFC.
Investors indulged in profit booking at attractive and higher valuations
Benchmark share indices ended lower for the third straight session as investors turned cautious amid tensions in Iraq even as consumer durables shares stole the limelight tracking rally in gold prices.
The NSE Nifty, comprising 50 shares, breached the 8,300-mark for the first time to hit a new lifetime high of 8,330.75.
Sun Pharma emerged as the star performer and closed 4.03 per cent up at Rs 675.45, while Cipla rallied 1.58 per cent to Rs 592.60.
The 50-share NSE Nifty gained 53.30 points or 0.61 per cent to 8,778.
Participants are eagerly waiting for the key macrodata -- IIP and CPI numbers due to be released later today.
8 out of 12 sectoral indices closed in red with BSE IT and Healthcare indices losing 0.5%.
Financials emerged as the top gainers while auto shares rallied on robust September sales
The falls meant that both crude futures were at their lowest levels since mid-April
Markets ended weak tracking the expiry of April derivative contracts.
Among other stocks, IT firm Mphasis today reported a 15.30% increase in consolidated net profit at Rs 184.72 crore for the quarter ended September 30, 2015.
Index heavyweights Reliance Industries and ITC were the top losers along with ICICI Bank and SBI
Most Asian stock markets steadied on Wednesday.
Tracking gains in bluechip stocks, investors were also seen building up position in broader markets, lifting the small-cap and mid-cap indices by 0.83 and 0.15 per cent
Markets ended in red, index heavyweights drag.
Markets in green tracking firm global cues.
Rise in crude oil price and rally in global equities aided the sentiment
Metals bucked the trend and shone across the board.
The S&P BSE Sensex surged 364 points to end at 24,607 and the Nifty50 soared 107 points to close at 7,476.
Nifty50 surged 145 points to close at 8,468 after hitting an intra-day high of 8,475.
L&T, ONGC and banking scrips power gains in today's trade
Benchmark share indices trimmed intra-day gains after global crude oil prices resumed their downward trajectory after sharp gains on Friday.
'The market position from here on is expected to go up'.
Participants are keenly awaiting the rollovers to the next series ahead of the expiry of June F&O.
Don't catch falling knives or chase bear rallies no matter how enticing those eight pc green blips look. They may be mouse traps, warns Sonali Ranade
Gains were led by index heavyweights Reliance Industries and Infosys.
The Sensex has slid 18.5 per cent from its January 2015 peak.
Investors indulged in buying beaten down blue chips at lower and attractive levels.
BSE Mid-cap and BSE Small-cap lost 2.5% and 3.1% after oil prices soared
The S&P BSE Sensex closed 318 points at 24,455 and the Nifty50 shed 99 points to end at 7,438.
The BSE Midcap and Smallcap indices underperformed the largecaps and ended over 1% lower.
Participants will watch out for the Brexit poll outcome in the late morning trades tomorrow.
The market breadth in BSE remains positive with 1,554 shares advancing and 1,196 shares declining.
World Bank lowered its global economic growth outlook for 2016 to 2.9% from 3.3% earlier.
The S&P BSE Sensex dropped 1 points to end at 26,396 and the Nifty50 slipped 2 points to end at 8,109.
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