Indian equity markets rebounded from two-month lows after the turmoil witnessed on Monday, even as Asian markets saw a good rebound in trade.

The BSE Sensex ended 660 points higher at 48,544 while the NSE Nifty 50 index gained 194 points to end at 14,504. The indices rebounded from the day's low in the second half of session. Major Gainers were M&M  Bajaj Finserv, Tata Motors while top Losers include Dr. Reddy's Lab, TCS and  Tech Mahindra. 

Most sectoral indices ended the session with gains. The PSU Bank index, which was the top loser on Monday, come out as the top sectoral gainer, ending 4.5 percent higher. The Nifty Bank index too gained nearly 1,000 points to end 3.2 percent higher at 31,771.

The Nifty Auto index was the other major sectoral gainer, ending 4.3 percent higher, led by gains seen in Mahindra & Mahindra. The Metal index too saw gains of 3.4 percent in today's session.

The Nifty I.T. index ended 3.3 percent lower led by losses seen in Tata Consultancy Services Ltd. while the Nifty Pharma index fell 1.2 percent.

Broader markets also ended largely in line with the benchmark indices. The Nifty Midcap index rose 1.7 percent while the Smallcap index ended 1.3 percent higher.

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