The Sensex and Nifty closed higher in trade today led by a rally in banking and auto stocks. Global markets were mostly higher ahead of an expected rate hike by the Federal Reserve.
While the Sensex closed 137 points higher to 36,484, Nifty ended 58.60 points in the green at 10,967.
The indices logged a positive start today with the Sensex rising 137 points at 36,476 and Nifty gaining 37 points to 10,945.
Top Sensex gainers were Asian Paints (3.36%), Axis Bank (2.88%) and SBI (2.68%).
Sun Pharma (2.10%), IndusInd Bank (1.70%) and Infosys (1.64%) were the top Sensex losers.
Meanwhile, the Reliance Communications (RCom) stock closed 9.63% lower at 14.26 after the department of telecommunications (DoT) said it can't approve the deal to trade airwaves between Reliance Jio and the Anil Ambani-owned telco as it does not conform to its guidelines.
The Reliance Communications stock plunged 13.77% on the BSE to hit an intra day low of 12.74 level.
Top sectoral gainers were auto stocks with the BSE auto rising 219 points to 21,391.
The BSE bankex (203 pts) and BSE oil and gas (144 pts) were the other major sectoral gainers. Bank Nifty gained 123 points to 27,298.
On the other hand, IT stocks were the top sectoral losers on a strong rupee with the BSE IT index falling 153 points to 14,300 level.
Meanwhile, the BSE mid cap and small cap indices closed 229 points higher to 15,519 and 159 points higher to 14764 level in trade today.
Market breadth was positive with 1639 stocks closing higher compared to 985 falling on the BSE. On a net basis, foreign portfolio investors (FPIs) bought shares worth Rs 144.76 crore on Tuesday, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 182.6 crore, provisional data available with BSE showed.
World stocks were mostly higher on Wednesday ahead of an expected rate hike by the Federal Reserve, while Asian indexes were weighed by Japanese data that showed its exports slowing in November.
In Europe, Germany's DAX gained 0.1 percent to 10,756.02 and France's CAC 40 was 0.3 percent higher at 4,768.28. Britain's FTSE 100 index rose 0.4 percent to 6,727.83. Wall Street was set for an optimistic open. S&P 500 futures rose 0.5 percent to 2,551.30 and Dow futures added 0.4 percent to 23,710.00.
Japan's Nikkei 225 index fell 0.6 percent to 20,987.92 while South Korea's Kospi rose 0.8 percent to 2,078.84. Hong Kong's Hang Seng was 0.2 percent higher at 25,865.39. The Shanghai Composite index shed 1.1 percent to 2,549.56. Australia's S&P ASX 200 gave up 0.2 percent to 5,580.60. Shares were higher in Taiwan and Southeast Asia.
Edited by Aseem Thapliyal