Benchmark indices ended the day higher ahead of F&O expiry on Thursday and statement from the US Fed due later today, which would provide hints on a likely interest rate hike in the US. Today's gains meant the indices broke a 4-day losing streak.
Shares in Yes Bank rallied 2 per cent after the company reported a good set of quarterly numbers. However, PSU banking shares came in for some heavy round of selling pressure with stocks like Canara Bank and Syndicate Bank falling below their 52-week low.
PNB, which had rallied a huge 4 per cent following its quarterly numbers shed 2 per cent in trade. IT stocks lent support to the markets with Infosys and HCL Tech among the gainers.
Shares in Glenmark Pharma fell a huge 5 per cent after a foreign brokerage firm downgraded the stock. Jet Airways shares soared after hopes of a solid performance were raised following good results from SpiceJet. The shares were up 11 per cent at one stage in trade.
Meanwhile, Asian markets saw some rebound in trade following a recovery by the Shanghai Composite. Europe was trading with marginal losses ahead of the US Fed Meeting announcement.