Benchmark equity indices Sensex and Nifty rebounded sharply on Wednesday following heavy buying in index majors Reliance Industries and HDFC Bank.

The 30-share BSE Sensex climbed 526.01 points or 0.73% to settle at 72,996.31. During the day, it jumped 668.43 points or 0.92% to 73,138.73.

The NSE Nifty went up by 118.95 points or 0.54% to 22,123.65.

From the Sensex basket, Reliance Industries jumped 3.50%, contributing the most to the rise. Maruti, Bajaj Finance, Titan, Kotak Mahindra Bank, HDFC Bank, IndusInd Bank, Mahindra & Mahindra and Larsen & Toubro were among the major gainers.

Wipro, HCL Technologies, Nestle, Tata Consultancy Services and Tata Motors were among the laggards.

In Asian markets, Tokyo settled in the positive territory, while Seoul, Shanghai and Hong Kong ended lower.

European markets were trading on a mixed note. Wall Street ended in negative territory on Tuesday.

Foreign Institutional Investors (FIIs) turned net buyers on Tuesday, as they bought equities worth ₹10.13 crore, according to exchange data.

Global oil benchmark Brent crude declined 0.96% to $85.42 a barrel.

On Tuesday, the BSE benchmark declined by 361.64 points or 0.50% to settle at 72,470.30. The NSE Nifty dropped 92.05 points or 0.42% to 22,004.70.