Benchmark indices Sensex and Nifty rebounded nearly 1 per cent on Wednesday, snapping their three-day losing run following gains in banking, power and IT shares amid positive trends in European markets.

The 30-share BSE barometer climbed 478.59 points or 0.84 per cent to settle at 57,625.91. During the day, it jumped 540.32 points or 0.94 per cent to 57,687.64.

The broader NSE Nifty reclaimed the 17,100 level by jumping 140.05 points or 0.82 per cent to close at 17,123.60.

In the 30-share Sensex pack, Power Grid, Axis Bank, NTPC, IndusInd Bank, Larsen & Toubro and UltraTech Cement were among the biggest gainers.

On the other hand, Asian Paints, Dr Reddy's, Bharti Airtel, Titan and ICICI Bank ended lower.

Elsewhere in Asia, markets in Seoul and Shanghai ended higher, while Tokyo and Hong Kong settled lower.

Stock exchanges in Europe were trading in the positive territory in mid-session deals. The US markets ended on a mixed note on Tuesday.

Meanwhile, the international oil benchmark Brent crude futures advanced 0.39 per cent to USD 94.64 per barrel.

Foreign institutional investors offloaded shares worth a net of Rs 4,612.67 crore on Tuesday, according to data available with BSE.