Markets opened flat on Thursday while ended on a positive note after jumping around 329.92 at 39,832 points and the Nifty rallied 84.80 points to end at 11,945.90.
Investors are also cautious ahead of the expiry of May futures and options (F&O) contracts, traders said.
According to Narendra Solanki, Head Fundamental Research (Investment Services) - AVP Equity Research, Anand Rathi Shares and Stock Brokers, the market currently waiting for new government to form and is more likely waiting for policy guidance and follow up announcements on same.
NTPC was the top gainer in the Sensex pack, rallying 3.44 per cent. Bharti Airtel, Bajaj Finance, TCS, HDFC twins, Yes Bank and RIL too gained up to 2.33 per cent.
While, Sun Pharma, M&M, ONGC, IndusInd Bank and Vedanta fell up to 2.39 per cent.Foreign institutional investors (FIIs) sold equities worth Rs 304.27 crore on Wednesday and domestic institutional investors (DIIs) offloaded shares to the tune of Rs 189.58 crore, provisional data available with stock exchanges showed.
Asian bourses ended on a mixed note, while Europe was trading in the green in opening deals.
Meanwhile, the Indian rupee was trading 5 paise lower at 69.88 against the US dollar. Brent crude, the global benchmark, slipped 0.06 per cent to 67.83 per barrel.
(With inputs from PTI)