Indian markets ended higher on Wednesday snapping earlier losses. Both Sensex and Nifty traded above 5-month high. At the close, the benchmark 30-share index, BSE Sensex gained 241.17 or 0.84% at 28,984.49 with 19 components posting rise. Meanwhile, the broad based NSE Nifty went up by 66.20 or 0.75% at 8,945.80 with 33 components posting rise.

Major gainers in the 30-share index were Tata Steel (3.66%), Mahindra & Mahindra (3.13%), Dr Reddy'S Laboratories (2.56%), Sun Pharmaceutical Industries (2.51%), ITC (2.46%), and Housing Development Finance Corporation (1.69%).

On the other hand, NTPC (1.90%), GAIL (India) (1.76%), Tata Motors (1.55%), Tata Power Company (1.03%), Bharat Heavy Electricals (0.90%), and Bharti Airtel (0.67%) were the major losers in the Sensex.

Market breadth was negative with 1,551 advances against 1,134 declines.

Reliance Industries topped the value chart on the BSE with a turnover of Rs. 1,015.46 million. It was followed by HDFC FMP - 1132 D - February 2016 (1) - Series 35 - Direct Plan - Growth (Rs. 981.00 million), I T C (Rs. 672.40 million) and Tata Steel (Rs. 596.20 million).

The volume chart was led by HDFC FMP - 1132 D - February 2016 (1) - Series 35 - Direct Plan - Growth with trades of over 100.00 million shares. It was followed by Unitech (19.81 million), Reliance Capital Builder Fund - II - Series A - Dividend (8.75 million) and Speciality Papers (6.45 million).