The NSE Nifty 50 index rose 0.9% to 17,005 as of 0351 GMT, while the S&P BSE Sensex gained 0.9% to 57,093.19.
Global equities staged a partial comeback on Wednesday, after Britain's central bank launched an emergency bond buying programme to stabilise the bond market in an attempt to dampen investors' concerns of a contagion across the financial system. [MKTS/GLOB]
Foreign institutional investors sold a net 27.72 billion Indian rupees ($340.5 million) worth of equities on Wednesday, while domestic investors purchased 25.44 billion rupees of shares, as per provisional data available with the National Stock Exchange.
The Nifty metals index rose 2.5%, while the auto index gained 1.4%
Indian cosmetics-to-fashion retailer Nykaa's parent FSN E-Commerce Ventures rose 4.3% after the company said it will consider an issue of bonus shares.
($1 = 81.4060 Indian rupees)
(Reporting by Nallur Sethuraman in Bengaluru; Editing by Savio D'Souza and Dhanya Ann Thoppil)