The Sensex closed the day higher by 74 points, while the Nifty ended the day higher by 21 points. Among the shares that led today's gains were Hindalco, Maruti Suzuki, Tata Motors and Dr Reddy's Laboratories.
Among the non index gainers TV Today rallied sharply after reports that the AV Birla group may take a 51% stake in Living Media, which in turn owns 57.46% stake in TV Today Network.
Shares of Glenmark Pharma jumped after the company reported a three fold jump in net profits.
Shares of jewellery companies rallied ahead of the festive season with Tribhoovandas Bhimji Zaveri and Shree Ganesh Jewellery amongst the gainers.
Banking shares which were amongst the biggest losers in trade following the RBI policy, saw buying support at lower levels.
Shares of ICICI Bank, State Bank of India, Allahabad Bank, Oriental Bank of Commerce and Punjab National Bank ended the day with gains.
Shares of FMGC companies ITC and Hindustan Unilever ended the day with marginal losses.