The BSE benchmark index, the Sensex, had opened 175 points higher at 58,839, steady gains in financial and power stocks helped the index touch a high of 58,968.
The NSE Nifty had touched a high of 17,601 in intra-day deals, and then tanked to a low of 17,354.
Shares of the recently listed companies, including latest View Analytics, One97 Communications , auto parts & equipment company SJS Enterprises, and Fino Payments Bank rallied up to 20 per cent in intra-day trades Wednesday supported by heavy volumes.
Meanwhile, Indian health insurance provider Star Health and Allied Insurance Co backed by ace Indian investor Rakesh Jhunjhunwala is looking to raise Rs 7,249 crore from its IPO opening on November 30.
Elgi Equipment, Mtar Technologies, Indian Overseas Bank, Bajaj Healthcare, Kabra Extrusiontechnik, Central Bank of India, Angel One, Aurum Proptech, Genus Power, JP Associates, Triveni Engineering, Lumax Auto Technologies and Sharda Motor Industries had rallied 9-16 per cent each.
The Sensex touched a high of 58,968, and was up 251 points at 58,915.
Power producers PowerGrid Corporation and NTPC were the major per centage gainers among the Sensex 30 stocks.
LIVE market updates: Indian equities are holding on to their gains despite volatility in the markets.
Individually, Triveni Engineering & Industries, Dhampur Sugar Mills, Balrampur Chini Mills, Dwarikesh Sugar Industries, Uttam Sugar Mills, EID Parry and Avadh Sugar & Energy were up between 3 per cent and 11 per cent on the BSE on the back of positive outlook.
The BSE Sensex was at 58,894, up 230 points, at 11:00 AM.
The NSE Nifty, too, was up 74 points at 17,577 levels.
The Nifty Energy index is up 1 per cent led by ONGC .
LIVE market updates: Pre-open session indicates decent opening gains for benchmark indices.
Technically, the current pull-back is likely to face strong resistance around 17,800-17,850 levels.
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