Equity benchmark indices declined in early trade on Wednesday in tandem with weak global cues and foreign fund outflows.
However, later both the benchmark indices rebounded and were trading in the green. The Sensex quoted 45.98 points up at 65,826.24 and the Nifty traded with a gain of 16.15 points to 19,591.05.
From the Sensex pack, IndusInd Bank, Tata Steel, JSW Steel, Tata Motors, Asian Paints and Maruti were the major laggards.
Bharti Airtel, UltraTech Cement, HDFC Bank, ITC and Reliance Industries were among the gainers.
In Asian markets, Seoul, Shanghai and Hong Kong were trading lower while Tokyo quoted in the green.
The US markets ended in the negative territory on Tuesday.
Global oil benchmark Brent crude climbed 0.07 per cent to $90.10 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,725.11 crore on Tuesday, according to exchange data.
Rallying for the third day, the Sensex climbed 152.12 points or 0.23 per cent to settle at 65,780.26 on Tuesday. The Nifty advanced 46.10 points or 0.24 per cent to end at 19,574.90.