The broader NSE index ended 0.79  higher at 10,948.25, while the benchmark BSE index closed up 0.75  at 36,976.85.

A Reuters poll last month showed the central bank was set to cut interest rates further on Wednesday as the country looks to stimulate growth and spending.

The Nifty bank index ended 1.35  higher, while the financials index closed up 1.56 .

Indiabulls Housing Finance was the top gainer in the NSE index, closing up 7.4 , while Zee Entertainment Enterprises was the biggest laggard, ending down 5.9 .