Indian markets saw a sharp recovery for the second day in a row, with the Nifty further adding to the rally seen on Tuesday.
Global cues were very strong with the Dow Futures indicating gains of nearly 0.70 and the European markets too traded with gains of 0.50 per cent.
The Sensex ended the day with gains of 353 points, while the Nifty gained 109 points in trade. Leading the set of gainers from the Nifty were stocks like Yes Bank and Tata Motors, both of which jumped upto 8 per cent.
Shares in Jyothy Labs fell after the company reported a drop in net profit of 11.4 percent to Rs 46.6 crore. The shares ended the day lower by 4 per cent. The worst decline today was seen in the stock of Zee Entertainment, which fell almost 10 per cent in trade, following reports that the Ministry of Company Affairs has ordered an investigation into the books of accounts.
Shares of Bharat Petroleum continued to gain ground for the third day in a row. The stock was up 3 per cent in trade. Falling crude prices may bolster profitability at the company feel analysts.
Meanwhile, most of the Asian markets closed the day higher as worries over the Caronavirus began fading.