The Sensex ended the day higher by 21 points (provisional), while the Nifty closed with a gain of 11 points at 6601 points. Among the top gainers in trade were the metal stocks with Hindalco, Tata Steel and Sesa Sterlite gaining ground.
Oil and gas stocks which saw selling pressure on Tuesday recovered lost ground and ended the day higher. Reliance Industries and ONGC both saw gains of more than one per cent.
Software stocks ended the day with losses with TCS dropping more than 2 per cent, while Infosys ended the day marginally lower.
Pharma stocks also dropped lower on worries that revenues would be hitting by the fast gaining rupee. Dr Reddy's, Cipla and Sun pharma were among the top losers from the space.
Coal India was the top gainer in trade with the stock ending the day more than 2 per cent up. PSU banking stocks continued to see buying interest with notable gainers being IDBI Bank, Bank of Baroda and Oriental Bank of Commerce.
Shares in Oberoi Realty rallied more than 10 per cent, after the company successfully bid for land of Tata Steel. Sintex Industries was up after the company decided to disinvest its entire equity stake in Zep Infratech to Khadayata décor.
Meanwhile, markets across Asia ended the day with gains led by a sharp rally in the Straits Times and the Seoul Composite.