Indian equity benchmarks ended higher on Wednesday, snapping a three-day losing streak, buoyed by positive global sentiment and expectations of a rate cut by the Reserve Bank of India later this week.

Markets gained on hopes of progress in US-China trade talks and a softer US dollar. Investors also looked ahead to Friday's RBI policy meeting, where the central bank is widely expected to cut rates by 25 basis points.

The BSE Sensex rose 235.87 points, or 0.3%, to close at 80,973.38. The NSE Nifty 50 advanced 65.60 points, or also 0.3%, to settle at 24,608.10.

Eternal (NSE:ZOMATO, BOM:543320) led the gainers with a 3.2% rise, followed by Jio Financial Services (NSE:JIOFIN, BOM:543940) and Bharti Airtel (NSE:BHARTIARTL, BOM:532454).

Bajaj Finserv (NSE:BAJAJFINSV, BOM:532978), Trent (NSE:TRENT, BOM:500251), and Eicher Motors (NSE:EICHERMOT, BOM:505200) were among the top laggards.

Chennai Petroleum (NSE:CHENNPETRO, BOM:500110) has earmarked 4 billion Indian rupees over the next two to three years to re-enter the direct fuel retail business by setting up petrol and diesel outlets. The company has received approval from the Ministry of Petroleum and Natural Gas for the initiative.

Adani Airports Holdings, a subsidiary of Adani Enterprises (NSE:ADANIENT, BOM:512599), has raised $750 million through external commercial borrowings from a consortium of international banks led by First Abu Dhabi Bank, Barclays PLC, and Standard Chartered Bank. The company will use the proceeds to refinance $400 million in existing debt and invest the balance in infrastructure upgrades, airport expansion, and non-aeronautical business development.