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Sensex closed at 81,337.95, up 446.93 points or 0.55 per cent. The 30-share index started the session in red at 80,620.25 against the last session's closing of 80,891.02. However, the index soared following buying in heavyweights to touch an intraday high at 81,429.88.

Major companies, such as HCL Tech, Nelco, Tata Technologies, Tejas Networks, AWL Agri Business, HDFC Life, Bank of Maharashtra, ITC Hotels, Axis Bank, HDFC AMC, Indian Hotels, Polycab, Wipro, and JSW Steel are scheduled to announce their Q1 results during the week.

Sensex was up 59 points at around 82,451 while Nifty was up 18.55 points at 25,122 in the early trade.

Market experts noted that while the underlying fundamentals of the Indian economy remain strong and foreign portfolio investment (FPI) inflows continue, the escalating tension with Pakistan may pose a risk to capital inflows in the near term.

The Nifty also showed similar movement. It touched a low of 23,273 before recovering to a high of 23,452. The index ended the day near its high, at 23,433, gaining 104.60 points or 0.45 per cent. In the last three days, the Nifty has risen by 1,038 points.

The Indian stock market is closed on April 14 on account of Ambedkar Jayanti.

The announcement lifted investor sentiment in the country, even as some Asian markets remained under pressure due to renewed trade war tensions between the US and China.

Bouncing back from a maniac Monday that left investors shell-shocked, the 30-share BSE benchmark Sensex jumped 1,283.75 points or 1.75 per cent to 74,421.65 in early trade. The NSE Nifty surged 415.95 points or 1.87 per cent to 22,577.55.

The 30-share BSE Sensex crashed 2,226.79 points or 2.95 per cent to settle at 73,137.90, recording its third day of decline. During the day, the index slumped 3,939.68 points or 5.22 per cent to 71,425.01.

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The domestic market crash was in tandem with trends seen in major global markets.

The new tariff structure includes a 10 per cent tax on all US imports, with higher tariffs on countries with a trade surplus. India will now face a 27 per cent tariff.

The Nifty index also mirrored this recovery, rising 166.65 points, or 0.72 per cent, to settle at 23,332.35. It touched an intra-day high of 23,350 and a low of 23,158.45.

Starting the new financial year on a losing note, the 30-share BSE Sensex tanked 1,390.41 points or 1.80 per cent to settle at 76,024.51 as 28 of its components ended lower and only two advanced. During the day, the index plummeted 1,502.74 points or 1.94 per cent to 75,912.18.

At 11:05 am, Sensex was down 1,136.25 points or 1.47 per cent, at 76,260.90 and Nifty was down 283.70 points or 1.21 per cent, at 23,231.20.

According to market watchers, after a positive opening, Nifty can find support at 22,450, followed by 22,350 and 22,300. On the higher side, 22,700 can be an immediate resistance, followed by 22,750 and 22,800.

The ongoing market correction is likely to continue over the next two quarters due to capital outflows and a lack of major new reforms.

On Tuesday, U.S. President Donald Trump reassured investors that he does not see a risk of a U.S. recession. His statement helped U.S. markets recover some of their earlier losses, easing concerns among investors. However, many remain cautious about the overall market direction.

The Sensex surged 740.30 points, or 1.02 per cent, to close at 73,730.23, while the Nifty jumped 250.00 points, or 1.13 per cent, to end at 22,332.65.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,486.41 crore on Tuesday, according to exchange data.