Mumbai: A benchmark index for the Indian equities markets closed 202 points higher on Wednesday, rallying for the second day on positive cues from other Asian and European bourses.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened in the positive at 16,922.31 points, consolidated its gain in the afternoon session and ended the day at 17,065, up 1.20 percent or 202.19 points from the previous close at 16,862.81 points.

At the National Stock Exchange, the 50-scrip S&P CNX Nifty closed 1.19 percent or 60.35 points higher at 5,124.65 points.

Buying activities were across the board, as broader markets as well as all sectoral indices at the BSE, except FMCG index, closed in the positive.

The BSE midcap index closed 1.24 percent higher at 6,473.52 points and the BSE small cap index ended 1.53 percent up at 7,307.02 points.

Most Asian markets rebounded on Wednesday after a three-day slump, with Japan's Nikkei gaining over 2 percent.