| The sentiment was also upbeat following CLSA's statement that India is one of its top markets. India is relatively better placed to withstand a slowdown in the US economy and there is no immediate pressure on participatory note holders to liquidate their positions, the brokerage added. |
| Bombay Stock Exchange's 30-share Sensex ended at 19,929.06, up 893.58 points or 4.7 per cent from Tuesday, after surging 5 per cent in the last few minutes of trade. Intraday, it touched a low of 19,336.96 and a high of 19,987.71. |
| National Stock Exchange's 50-share Nifty closed at 5937.90, up 242.50 points or 4.3 per cent. Intraday, it moved between 5700.05 and 5950.20. |
| The shares of banks and oil and gas companies led gains, with State Bank of India rising 3 per cent to Rs 2,354 on hopes that its rights issue will be attractively priced. ICICI Bank ended 9 per cent up at Rs 1,279, while HDFC Bank closed at Rs 1,752, up 11 per cent. |
| BSE Oil & Gas index surged 7 per cent, led by gains in Reliance Industries, up 7 per cent at Rs 2,888, and Oil and Natural Gas, up 5 per cent at Rs 1,236. |
| The combined turnover on BSE and NSE was Rs 293.13 billion, up from Rs 275.71 billion on Tuesday. |
| CNX Midcap Index and S&P CNX 500 Index ended up by 3 per cent and 4 per cent respectively. |
| National Aluminium was the top Nifty gainer, rising 14 per cent to Rs 421, as aluminium and alumina prices are expected to stabilise, analysts said. |
| "Alumina prices are likely to strengthen from the current levels, driven by rising bauxite costs," CLSA said in a report to its clients. |
| Hindalco was up 7 per cent at Rs 218. The company on Wednesday raised prices of its aluminium products by Rs 2,000 a tonne. |
| Sterlite Industries rose 4 per cent to Rs 1,012 as the prices of copper rebounded on the London Metal Exchange. |
| Information technology shares gained, despite the rising rupee as investors bought the recently battered shares at lower levels. |
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