Domestic stock markets recovered early losses in afternoon trade on Wednesday, led by strong buying interest in pharmaceutical, consumer goods and select financial stocks. The S&P BSE Sensex index climbed to as high as 38,236.34 during the session, rising 408.23 points from an intraday low of 37,828.11. The broader NSE Nifty 50 benchmark rose to 11,295.40 at the strongest level recorded during the day, having earlier weakened to as low as 11,184.55 from its previous close of 11,222.40. However, selling pressure in energy and metal shares kept the gains in check.
At 2:22 pm, the Sensex traded at 38,179.95, up 206.73 points - or 0.54 per cent - from its previous close, while the Nifty was up 55.00 points - or 0.49 per cent - at 11,277.40.
Dr Reddy's Laboratories, Titan, Tech Mahindra, Nestle and Hindustan Unilever, trading between 2.38 per cent and 3.01 per cent higher, were the top percentage gainers in the benchmark Nifty index.
On the other hand, Bharat Petroleum, Tata Steel, Bharti Airtel, JSW Steel and Coal India, down 1.87-9.18 per cent each, were the worst hit among 22 laggards in the Nifty basket of 50 shares.
HDFC Bank, HDFC and Hindustan Unilever were the biggest boosts to Sensex.
Heavyweight Reliance Industries rose 1 per cent to Rs 2,267.55 apiece on the BSE, after the conglomerate said US-based General Atlantic would invest Rs 3,675 crore for a 0.84 per cent stake in its retail arm, Reliance Retail Ventures.
Global share markets fell on Wednesday after a chaotic first US presidential debate turned investors cautious, though strong factory surveys gave a boost to Chinese shares.
European equities started the day on a lacklustre note, with the United Kingdom's FTSE 100 benchmark index last seen trading 0.04 per cent higher in early trade. While France's CAC 40 index was down 0.28 per cent at the time, Germany's DAX 30 was down 0.46 per cent.