Sustained buying in frontline stocks along with short covering prompted the rally. Among the notable Nifty gainers was Sun Pharma, Tata Steel and Cipla. Nifty stocks that gained ground were ITC, Grasim and Asian Paints. HDFC, which reported Q3 numbers in line with estimates ended the day flat.
Dabur on the other hand ended the day with losses after its results were marginally below estimates. Mid cap stocks saw some buying interest in trade with MRF, Tata Chemicals and Karnataka Bank ending the day with gains.
TCS which had dropped on Tuesday lost ground again and ended the day lower. The Bank Nifty which had rallied substantially in trade on Tuesday ended the day flat. However, gainers from the space were Kotak Mahindra and ICICI Bank.
Asian Paints, which declared its results on Tuesday continued to see selling pressure after its numbers failed to meet expectations.
Meanwhile, markets across Asia ended the day higher even as the Chinese Shanghai Composite rallied more than 2 per cent. Other markets like the Japanese Nikkei and the Korean Kospi ended the day flat.