A surge in metal and auto stocks helped the Bombay Stock Exchange benchmark Sensex close nearly 100 points higher on Wednesday, reversing two days of losses.
     
Similarly, the wide-based 50-share index of the National Stock Exchange managed to regain the 5,400 level after closing up 0.58 per cent.
     
Market expert

"The market is by and large steady but it is important for the market to sustain the current levels in order to gain investors' confidence. Small time sluggishness may come, but in the long run, the market should remain positive," Unicon Financial Solutions CEO Gajendra Nagpal said.
     
Auto, IT

After losing some ground, auto stocks bounced back on Wednesday, with Tata Motors gaining 1.04 per cent and Maruti Suzuki rising 0.13 per cent on expectations of them earning well in the first quarter of the fiscal. Maruti Suzuki is expected to announce its numbers on July 24.
     
IT shares were also in the limelight ahead of Wipro's quarter results on Friday. Wipro was up 1.83 per cent, while the country's largest software exporter TCS, too, ended higher by 1.53 per cent. Infosys, which had announced disappointing June quarter numbers, also gained 0.29 per cent.
     
Realty major DLF gained 0.51 per cent on the BSE, while Jaiprakash Associates climbed by 1.06 per cent.
     
Reliance Industries, which has the maximum weight on the Sensex, rose 0.51 per cent.
     
Firm Asian and European markets also supported the market sentiment, marketmen said. European indices were trading firm, with the FTSE up 1.56 per cent and CAC up 1.62 per cent.
     
Among the losers, HDFC was the worst hit, falling 1.41 per cent, followed by Bharti Airtel, Cipla and HDFC Bank, which lost 0.67 per cent, 0.55 per cent and 0.54 per cent respectively.
    
Extending Tuesday's losses, Anil Ambani-led Reliance Communications lost 0.16 per cent to close at Rs 188.05.