The Sensex ended the trade at 26932.88 higher by 147.33 points or by 0.55 per cent while the NSE Nifty at 8152.90, up by 33.60 points or 0.41 per cent.
On the global front, European peers too bounced back in green with all CAC , DAX and FTSE trading in green.
Suzlon Group has won Turkey repeat order of 100.8 MV from Orange Renewable which will be installed at a wind park in Andhra Pradesh.
The stock ended the day at Rs 22.20, higher by 2.30 per cent on BSE. It touched an intraday high Rs 22.75 during the trade.
The RBI has initiated a prompt corrective action on the bank and that this action will not have any material impact on the growth prospects or performance of the bank, IOB said in a filing on BSE.
The stock ended the day at Rs 37.25, lower by 0.27 per cent on BSE. It touched an intraday low Rs 36.50 during the trade.
Bombardier Commercial Aircraft and Tech Mahindra, announced today that they have signed an agreement under which Tech Mahindra will develop the Aircraft Ground Support System (AGSS) for Bombardier's Aircraft Health Management System (AHMS) for the C Series family of aircraft.
The stock ended the day at Rs 564, lower by 0.98 per cent on BSE. It touched an intraday high Rs 578 during the trade.
Shares of the Sun Pharmaceutical Industries was seen trading higher on Tuesday after the company announced that Ranbaxy Pharmaceuticals, a wholly-owned subsidiary entered into a Settlement Agreement with Actavis that dismisses the patent litigation suit relating to Actavis.
The stock ended the day at Rs 909.70, higher by 1.28 per cent on BSE. It touched an intraday high Rs 919 during the trade.
Shares in Wockhardt jumped 3 per cent after the company said that UK MHRA has not found any critical observations after inspection of the company's Chikalthana unit.
The stock ended the day at Rs 1584, higher by 2.92 per cent on BSE. It touched an intraday high Rs 1604 during the trade.