Shares of pharmaceutical companies such as Cadila Healthcare, Lupin Ltd and Sun Pharmaceutical Industries gained between 4.10 per cent and 8.9 per cent.

Nifty Pharma index jumped 3.1 per cent.

According to analysts, investors are buying after several weeks of decline.

As of Wednesday's close, Lupin shares were down 6.1 per cent since the company had reported its June quarter results on August 2. Shares of Sun Pharmaceutical Industries had lost 25.5 per cent this year as of Wednesday's close.

More than 3.4 million Cadila shares changed hands, compared with the 30-day average of around 1.2 million shares.

As of Wednesday's close, Nifty Pharma index was down 8.9 per cent compared with the NSE index's 2.3 per cent fall from a record high hit on August 2.