Equity benchmark indices fluctuated between gains and losses in the afternoon trade, however, the market turned bullish following reports that China and America were moving closer to a trade deal. Besides, investors seem to be taking a cautious stance ahead of the RBI monetary policy outcome, which is due on Thursday.
The Sensex closed higher by 175 points at 40,850 and the Nifty gained 43 points at 12,038.
, Infosys, TCS, SBI and Tata Motors were among the top gainers, while Reliance Industries
, L&T, HDFC Bank and Maruti were top losers on Wednesday.
On the sectoral front, metal stocks have rebounded with the index closing over 1% led by Tata Steel, JSW Steel, Jindal Steel & Power, Hindalco Industries, SAIL, Vedanta, NMDC and Coal India.
On the banking front, Canara Bank, Union Bank of India, Oriental Bank of Commerce, J&K Bank, State Bank of India, Bank of Baroda and Indian Bank among top gainers.
The most active stocks included Yes Bank, ICICI Bank, Reliance Industries, Larsen & Toubro and Tata Motors.
On the economy front, the cabinet has approved an umbrella bond exchange trade fund known as the Bharat Bond ETF in a bid to diversify the investor base and increase debt option.