The Stock market on Wednesday snapped three-day losing streak as Nifty finished above 26,200.
Indices tracked positive global markets amid rising expectations of rate cut by Federal Reserve in its December policy meeting. At close, the Sensex was up 1,022.50 points or 1.21% at 85,609.51, and the Nifty was up 320.50 points or 1.24% at 26,205.30.
Further the BSE Midcap index jumped 1.32%, while the Smallcap index ended 1.23% higher. The overall market capitalisation of BSE-listed firms to nearly Rs 475 lakh crore from Rs 469 lakh crore.
Among the sectors, all the indices ended with healthy gains. Nifty Metal, Consumer Durables, and Oil and Gas indices rose by up to 2% while Nifty Bank rose 1.20% to end at 59,528 after hitting a record high of 59,554.95 during the session.
Nifty Realty gained over 1%to close at 911.45 after recording losses for five straight sessions.
The top gainers in the index were Oberoi Realty, Prestige Estates, Anant Raj and Sobha. DLF and Brigade Enterprises gained over 1% each while Godrej Properties and Phoenix Mills shares gained nearly 1%.
On Nifty, around 44 stocks ended higher with the top gainers being JSW Steel up by 3.69%, HDFC Life Insurance Company up by 2.80%, and Bajaj Finserv up by 2.55%.
Bharti Airtel (1.60%), Adani Enterprises (0.81%), and Eicher Motors (0.53%) ended as the top losers in the index. Out of 4,325 stocks traded on the BSE, 2,800 advanced, while 1,371 declined.
Some 154 stocks remained unchanged. Around 111 stocks, including Reliance Industries, SBI, Larsen and Toubro, and Axis Bank, hit their 52-week highs in intraday trade on the BSE.
Further, around 170 stocks, including Cohance Lifesciences, Deepak Nitrite, Stanley Lifestyles, Shoppers Stop, Nilkamal, and Chemplast Sanmar, hit their 52-week lows in intraday trade on the BSE.
Shares of metal companies also surged pushing the Nifty Metal index higher up into the green for the second consecutive session. Lloyds Metals and Energy shares were the top gainers on the Nifty Metal index, rising nearly 5%.
JSW Steel shares spiked nearly 4%, Steel Authority of India (SAIL) gained over 3%, while Hindustan Copper, JSL, Vedanta and NMDC shares rose more than 2% each.