Infosys was top gainer in the Nifty 50 basket of shares.

The S&P BSE Sensex and NSE Nifty 50 indexes rebounded in today's session led by gains in Infosys, HDFC, Hindustan Unilever, ICICI Bank and ITC. For most part of the day, Sensex and Nifty traded in the narrow band and erased gains in late morning deals on the back of sharp dip in the banking shares. The banking sub-index on the National Stock Exchange - Nifty Bank index - dropped as much as 867 points from day's highest level to close on a flat note.

The Sensex ended 0.65 per cent or 247 points higher at 38,127 and the NSE Nifty 50 index rose 0.63 per cent or 71 points to close at 11,305.

Nine of 11 sector gauges compiled by National Stock Exchange ended higher led by the Nifty Metal index's over 2 per cent gain.

Nifty IT, Nifty FMCG, Nifty Pharma and Nifty PSU Bank indexes also rose between 0.7-1.5 per cent each.

On the other hand, Nifty media index was top loser, down 0.34 per cent.

Infosys was top gainer in the Nifty 50 basket of shares. The stock rose 4 per cent to close at Rs 815 ahead of its September quarter earnings. Cipla, Vedanta, Tata Motors, ONGC, Hindalco, Tata Steel, UltraTech Cement, Coal India and Adani Ports were also among the gainers.

On the flipside, TCS fell 0.77 per cent to close at Rs 1,989 after it reported lower than estimated profit of Rs 8,042 crore.

Indian Oil, Yes Bank, GAIL India, Mahindra & Mahindra, Reliance Industries and Bajaj Finserv were also among the laggards.

The overall market breadth was marginally negative as 902 shares closed lower while 864 ended higher on the NSE.