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​When the closing price falls below the VWAP, it signifies that the closing price is lower than the average price at which it was traded throughout the day.

Investors have been shoring up rate cut bets after a milder inflation reading last week boosted expectations for U.S. rate cuts this year.

Gold prices were steady on Wednesday and hovered above key $2,400 level touched earlier this week, supported by safe-haven buying and the prospect of interest rate cuts from the U.S. Federal Reserve later this year.

As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend.

Share prices have rebounded from multi-year lows in February on signs of more official support. The benchmark Shanghai index has climbed more than 3% since reports of the property rescue surfaced on Thursday, taking its gains to a fifth in 3-1/2 months, though the rally stalled on Tuesday as investors awaited more details on how the funding would work. Hong Kong-listed Chinese shares are up nearly 38%

Both benchmarks fell less than 1% on Monday as U.S. Federal Reserve officials said they were awaiting more signs of slowing inflation before considering interest rate cuts.

At the buyback auction on Tuesday, the RBI accepted bids worth Rs 5,266.04 crore as against the aggregate notified amount of Rs 60,000 crore worth of bonds that the government had offered to repurchase.

"Being the global bank that we are, what we do, therefore, is connect India to the rest of the world and connect the rest of the world to India and GIFT is clearly onshoring what was happening offshore," HSBC India CEO Hitendra Dave told ET.

Hindustan Zinc surged 20%, followed by Vedanta which gained 7.04%. Jindal Steel and Power and Hindalco moved up over 4%, while Tata Steel, JSW Steel, and Hindustan Copper rose over 3% each.