Equity benchmark Sensex jumped over 500 points in early trade on Wednesday, tracking gains in index majors HDFC twins, Tata Steel and Reliance Industries amid positive cues from Asian markets.

The 30-share index was trading 515.05 points or 0.90 per cent higher at 57,579.92 in initial deals. Similarly, the Nifty rose 185.15 points or 1.09 per cent to 17,168.35.

IndusInd Bank was the top gainer in the Sensex pack, rising 3.21 per cent, followed by Tech Mahindra, HDFC, Tata Steel, SBI, Asian Paints and NTPC.

On the other hand, Dr Reddy's and PowerGrid were among the losers.

In the previous session, the 30-share BSE index settled 195.71 points or 0.34 per cent lower at 57,064.87. Similarly, the NSE Nifty declined 70.75 points or 0.41 per cent to close below the 17,000-mark at 16,983.20.

Elsewhere in Asia, bourses in Tokyo, Hong Kong, Shanghai and Seoul were trading with gains in mid-session deals.

Stock exchanges in the US ended with losses in the overnight session.

Meanwhile, international oil benchmark Brent crude fell 3.91 per cent to USD 70.57 per barrel.

Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 5,445.25 crore on Tuesday, as per exchange data.