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Equity benchmark indices rebounded strongly on Tuesday, with the NSE Nifty reaching a fresh all-time high during afternoon trading.

The Sensex closed at 80,351.64, up by 391.26 points, while the Nifty climbed 112.65 points to settle at 24,433.20

The surge was driven by buying in blue-chip stocks, positive global market trends, and foreign fund inflows.

Leading the rally, Maruti Suzuki India saw a significant jump of over 6 percent. Other top gainers in the Sensex pack included ITC, Mahindra & Mahindra, Titan, State Bank of India, Larsen & Toubro, and Tata Motors.

Conversely, Reliance Industries, Kotak Mahindra Bank, JSW Steel, and Tech Mahindra were among the laggards, showing declines.

Asian markets also showed robust performance, with key indices in Seoul, Tokyo, Shanghai, and Hong Kong trading higher.

"The market is exhibiting strength and is showing no signs of a sharp correction despite the high valuations," market analysts noted. "A healthy trend in the market is that fundamentally strong large-cap stocks are seeing buying interest."