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The Indian stock markets snapped their two-day losing run, with BSE Sensex rising by 188 points, or 0.23 per cent, to 83,570.35 and the NSE Nifty increasing by 29 points, or 0.11 pc, to 25,694.35 on the back of brisk buying in IT and Banking sectors.Shares of IT heavyweights, including Infosys, TCS, and Tech Mahindra, were leading among the gainers.

Among the sectors, Nifty IT index spiked 3.34 pc, Nifty Bank was up 0.86 pc and PSU Bank was up 1.16 pc. whereas the key ones on the losing end were Nifty Pharma (1.28 pc), Healthcare (1.15 pc), and Consumer Durables (1.11 pc).

On Nifty, the top gainers were Infosys up by 5.58 pc, followed by Tech Mahindra (by 5.26 pc), Wipro (by 2.54 pc), HCL Tech (by 2.41 pc) and TCS (by 2.34 pc).

Over 1,850 stocks advanced while over 2,350 declined on the BSE.Around 84 stocks hit their 52-week highs while as many as 260 stocks hit their 52-week lows on the BSE.

Those on highs included SBI, Axis Bank and Tata Steel, while lows included ITC, Tube Investments of India and Dixon Technologies (India).

Shares of real estate companies rose in trade. Prestige Estates were the top gainer rising nearly 2 pc, Macrotech Developers (Lodha), Oberoi Realty and Godrej Properties shares followed, rising around 1 pc each.

Shares of oil marketing companies (OMC) jumped in trade as the Hindustan Petroleum Corporation Limited (HPCL) shares surged nearly 4 pc, Bharat Petroleum Corporation Limited (BPCL) shares rose over 3 pc, and Indian Oil Corporation (IOC) shares gained around 2 pc.

Foreign Institutional Investors continued to be net cash sellers to the tune of Rs 21,706.27 crore till date.On a weekly basis, both the indices posted flat returns, whereas BSE Midcap and Smallcap indices witnessed correction.