A section of the market, however, said the heavy buying was due to short-sellers to cover positions in the derivatives segment, where November contracts expired today.
As a result, the futures and options market on the National Stock Exchange (NSE) reported an all-time high turnover of Rs 13,551.54 crore.
The Sensex ended 94.45 points higher than Tuesday's close at 4,989.04. The broader NSE S&P CNX Nifty also ended 29.70 points higher at 1,598.35 with the cash market turnover jumping to Rs 5,407 crore from November's daily average of around Rs 4,000 crore.
The Hindustan Motors counter saw an unusually high volume of over 31.9 million shares traded on the NSE and BSE. This is almost twice the average daily combined volume of the scrip.
The stock price jumped 14.61 per cent to close at Rs 18.67.
