The BSE Sensex and Nifty gained slightly to extend a winning streak to a fourth day.

Cipla surged after posting a jump in earnings, but Coal India slumped after its fuel supply agreements with utilities sparked concerns about its margins.

Gains on Wednesday were limited as China's manufacturing activity fell to an eight-month low, adding to risk aversion ahead of the Federal Reserve's meeting later in the day and the European Central Bank policy meeting this week.

P. Chidambaram's appointment as the Finance Minister was seen as a positive given his reformist image,traders said.