The BSE Sensex gained 0.38 per cent, recovering after slumping more than 3 per cent over the last three sessions. The Nifty traded up 0.44 per cent.
Gains also tracked higher Asian markets on Wednesday after Turkey stunned investors with a huge hike in interest rates, stirring hopes that the drastic action would short-circuit a vicious cycle of selling in emerging markets and revive risk appetite generally.
Maruti Suzuki shares rose as much as 8 per cent, recovering almost fully from an 8.2 per cent drop on Tuesday due to concerns about Suzuki Motor's plans to invest $488 million to build a car plant in India's Gujarat state.
ICICI Bank gained 1.1 per cent ahead of its December-quarter results later in the day.
The bank may beat consensus profit forecast, Thomson Reuters StarMine's SmartEstimates shows.
Copyright Thomson Reuters 2014
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
