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The market started off the October series on a positive note, rebounding sharply after previous day's sharp sell-off.
Equity benchmarks entered into consolidation phase after yesterday's sell-off. The Nifty continued to hover around 8600 level.
The broader markets outperformed benchmarks, rising more than 0.4 percent.
Technology and oil stocks saw short covering whereas select banks and FMCG stocks remained under pressure.
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Commodity Market: Gold prices dropped as the dollar firmed and investors assessed Federal Reserve Chair Janet Yellen's testimony before a Congressional committee.
Silver rose as Fed Chair Janet Yellen avoided a hard timeline for a rate hike, though a colleague did suggest the topic was up for discussion in November.
Crude surged to settled up amid speculation that OPEC will soon agree to curb production.