The Nifty Energy index rose 1.84%, led by Indian Oil, Bharat Petroleum, Hindustan Petroleum and GAIL Domestic stock markets closed around 1.3 per cent higher on Wednesday, breaking a three-day losing streak.
The SP BSE Sensex rose 489.80 points to settle at 39,054.68, and the NSE Nifty ended at 11,726.15, up 150.20 points from the previous close.
Strong buying interest in banking, financial services, IT and energy stocks pushed the benchmark indexes higher in late afternoon deals.
Top gainers on the 50-scrip index were UltraTech Cement, Bharat Petroleum, HCL Tech, IndusInd Bank, ONGC and Indian Oil, finishing between 2.78 per cent and 5.57 per cent higher for the day.