Indian indices edged higher to end at record close on Wednesday, snapping two sessions of losses, led by gains in IT and Auto stocks. The Sensex ended 394 points higher at 49,792 while the Nifty rose 123 points to settle at 14,645. Broader markets were also higher for the day with the midcap and smallcap indices up 0.5-1 percent each.

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The Nifty Auto and Nifty IT index surged over 2 percent each for the day while Nifty Metal was up 0.9 percent. Nifty Bank and Nifty Fin Servcies also rose 0.3 percent each.

Here are key stocks that moved the most today:

Tata Communications: The stock fell 6.5 percent on reports that the government could sell its entire 26.12 percent stake in the company through offer for sale and strategic sale route in the current fiscal. Meanwhile, the firm also reported a 19.6 percent fall in its consolidated net profit at Rs 309.4 crore versus Rs 384.8 crore in the quarter ended September 2020.

Gateway Distriparks: The stock hit its 20 percent upper circuit of Rs 141 after the company’s consolidated net profit nearly doubled to Rs 32.62 crore for the December quarter (Q3FY21), led by strong operating performance. It had posted a profit of Rs 16.39 crore in the year-ago quarter.

Gayatri Projects: Gayatri Projects' share price jumped over 2.5 percent intraday on January 20 after CARE upgraded the long-term bank facilities rating of the company. The rating agency has upgraded the long-term bank facilities rating of the company and has revised the rating to CARE B/Stable from CARE D with a stable outlook. The short-term bank facilities rating has been revised from CARE D to CARE A4.

SBI Cards: Shares of SBI Cards and Payment Services hit a new high of Rs 1,002, up 4 percent on the BSE ahead of the announcement of December quarter results tomorrow. The stock ended over 3 percent higher at Rs 998.60.

(Edited by : Pranati Deva)