Equity benchmark Sensex surged 383 points on Tuesday, buoyed by Reliance Industries, Kotak Bank and Bajaj Finance amid a largely positive trend in global markets.

The 30-share index ended 383.21 points or 0.63 per cent higher at 61,350.26. Similarly, the NSE Nifty surged 143 points or 0.79 per cent to 18,268.40.

Tata Steel was the top gainer in the Sensex pack, spurting around 4 per cent, followed by Titan, Bajaj Finance, Nestle India and Tech Mahindra.

On the other hand, IndusInd Bank, ICICI Bank, PowerGrid, HUL, Dr Reddy's and TCS were among the laggards.

"Markets managed to end higher in a volatile trading session, thanks to firm global cues. Upbeat earnings announcements from the US markets set the tone in the beginning however choppiness in the index majors, especially from the banking pack, in the middle kept the participants on their toes," said Ajit Mishra, VP - Research, Religare Broking.

Indications are in favour of a further rebound, but a lot would depend on the earnings announcement scheduled in the following sessions, he noted.

Elsewhere in Asia, bourses in Tokyo and Seoul ended with gains, while Shanghai and Hong Kong were in the red.

Stock exchanges in Europe were also trading on a positive note in mid-session deals.

Meanwhile, international oil benchmark Brent crude slipped 0.29 per cent to USD 84.92 per barrel.