After a long volatile session, the benchmark indices ended with over 1 per cent gain on Tuesday on the back of index heavyweights HDFC twins, ICICI Bank and Infosys amid strong cues from global equities.

The S&P BSE Sensex briefly turned negative in afternoon session after tension between India-China escalated, but the 30-share index managed to recover the losses and ended in the positive territory with 376.42 points, or 1.13 per cent, higher at 33,605.22.

Similarly, the NSE Nifty50 closed 100.30 points, or 1.02 per cent, up at 9,914.

Among the Sensex pack, the top gainers were led by HDFC Bank that jumped around 4 per cent, followed by HDFC, ICICI Bank, Infosys, Kotak Bank and Hero MotoCorp.

On the other hand, IndusInd Bank, Tech Mahindra, Axis Bank and ITC were among the laggards.

Gainers on the NSE was led by Nifty Financial Services index up 2.7 per cent, whereas, among the laggards, PSU Bank index bled the most with 0.9 per cent down.

According to traders, Dalal Street was enthused by positive cues from global markets after US Federal Reserve launched a massive programme to support Main Street businesses hit by the virus lockdown.

The Fed announced its Main Street Lending Program and an emergency lifeline under which it will buy up to $750 billion in corporate bonds.

The plan is part of a massive financial backstop put in place by the bank to protect the economy from the worst of the virus crisis.

Bourses in Shanghai, Hong Kong, Tokyo and Seoul ended up to 5 per cent higher.

Stock exchanges in Europe too opened with significant gains.

However, massive escalation of border tension in the sensitive Galwan Valley in eastern Ladakh dampened domestic investor sentiment.

In the first such incident in the last 45 years reflecting massive escalation in the five-week border row, an Indian Army officer and two soldiers were killed during a violent confrontation with Chinese troops in the Galwan Valley on Monday night.

Meanwhile, the rupee pared initial gains and closed 17 paise lower at 76.20 against the US dollar.

International oil benchmark Brent crude futures rose 1.41 per cent to $40.28 per barrel.