Sensex, on Monday opened in the red, tumbled 372 (0.65%) points to 56,983. Meanwhile Nifty went down by 127 points (0.74%) to stay at17,073.
On Tuesday, the NSE Nifty 50 index closed up 1.46% at 17,200.80, while the S&P BSE Sensex settled up 1.37% at 57,356.61.
Car maker Maruti Suzuki India, which is set to post results later this week, rose to a near eight-week high during the session but gave up gains to settle 0.07% lower.
Adani Enterprises closed up 4.9% at a record high, while Adani Ports was the top gainer on the Nifty 50 index with a 5.8% jump.
A media report on Tuesday said that conglomerate Adani Group was in advance talks to buy Holcim’s cement business in India.
Mahindra CIE Automotive closed up 12.4% at its highest since mid-January, after its March-quarter net profit jumped.
HDFC Life Insurance Co shares settled up 1.8% after reporting a rise in profit after tax for the March quarter.
Shares of Reliance Industries jumped 3% to near record highs.
Nifty components Bajaj Finance closed up 3.4% ahead of its March-quarter results.
(With inputs from Reuters)