The frontline indices settled around 1 per cent higher on Wednesday led by the gains in Reliance Industries (RIL), ICICI Bank, Infosys, TCS and Bajaj Finance.

The S&P BSE Sensex ended at 36,975, up 358 points or 0.98 per cent, while the broader Nifty50 index settled at 11,062, up 128 points or 1.17 per cent.

Among the sectoral indices, Nifty Metal index settled 2.34 per cent higher led by Steel Authority of India (SAIL) and Jindal Steel and Power. Also, the Nifty IT index ended 2.01 per cent higher led by gains in Tech Mahindra and Infibeam Avenues.

However, the broader market indices underperformed their benchmark peers. The S&P BSE MidCap index ended 17 points or 0.12 per cent lower at 14,425, while S&P BSE SmallCap settled at 13,668, up 6 points or 0.05 per cent..

Shares of Reliance Industries (RIL) settled 1.52 per cent higher at Rs 1,310 apiece on BSE. In the past 17 trading days, RIL outperformed the market by surging nearly 20 per cent from Rs 1,096 on January 14, 2019, after the company reported a better-than-expected consolidated net profit of Rs 10,251 crore in October-December quarter (Q3FY19).

Shares of SRF jumped 10.75 per cent to settle at Rs 2,239 apiece on BSE after the company reported a strong set of numbers for the quarter ended December 2018 (Q3FY19).

The company posted growth of 26 per cent year-on-year (YoY) in consolidated net profit at Rs 166 crore in Q3FY19 on back of higher revenue. The operational revenue grew 41 per cent to Rs 1,964 crore from Rs 1,397 crore in the corresponding quarter of the previous year.