However, most Asian markets ended lower after a rout in tech stocks, tracking a hefty sell-off on Wall Street, while the dollar hit a 16-month peak on safe haven bets amid China-US trade war worries.

Sony India said that the company ran out of the 55-inch TV stock even before Dhanteras.

Benchmark Sensex rallied 310 points to reclaim the 35,000-mark in the opening trade of the special Muhurat session on Wednesday to mark the beginning of Hindu Samvat year 2075.

The Sensex fell below the 35,000-level to touch a low of 34,811.60 due to heavy selling pressure in view of foreign capital outflows and weak global cues.

The new management board, headed by Kotak Mahindra Chairman Uday Kotak, has said they will need at least six to nine months to implement the complete resolution plan.

Market commenced the session on a strong footing on easing concerns around the rift between the government and RBI. However, emergence of profit-booking at every rise reversed early gains.

Reliance Industries fell 2.8 percent, while Housing Development Finance Corporation slipped 1.6 percent. Hindustan Petroleum Corp Ltd fell 4.77 percent, and was the top loser on the NSE index.