A last hour surge led by gains in financials and IT stocks helped the benchmark indices snap their 3-day losing streak and close Wednesday's session at day's high.
The BSE Sensex ended the day at 39,055, up 490 points, or 1.27 per cent, with the highest gains in HCL Tech, ONGC, IndusInd Bank, YES Bank and Bharti Airtel. Out of 30 components, 23 scrips ended in the green and rest seven in the red. Broader index Nifty50 surged 150 points to close at 11,726. About 1,232 shares advanced while 1,237 shares declined, and 157 shares remained unchanged.
Market breadth was in favour of advances with advance-decline ratio at 1:1
ACC shares ended the day at Rs 1,600.70, a decline of 3.67 per cent on the National Stock Exchange (NSE) after the company reported a lower-than-expected operating performance in the quarter ended March, 2019 or Q1CY19.
Shares of Oil and Natural Gas Corporation (ONGC) hit a 6-month high of Rs 170, up 4 per cent, in intra-day trade on Wednesday, and ended the day at Rs 168.35, a gain of 2.81 per cent, on the expectations of strong earnings in the January-March quarter (Q4FY19).
Indiabulls Real Estate surged 10 per cent to close the day at Rs 115.70 on the NSE on the back of heavy volumes after the company said it has decided to divest Century, the parent company that houses Hanover Square property, London. The company has decided to focus only on Mumbai & National Capital Region (NCR) markets.