The benchmark BSE Sensex rebounded over 180 points in early trade on Tuesday led by gains in index heavyweights RIL, HDFC Bank and ITC, amid unabated foreign fund inflow.The 30-share index was trading 152.78 points or 0.40 per cent higher at 38,797.96. The NSE Nifty too rose to 40.35 points or 0.35 per cent to 11,634.80.

In the previous session, the BSE bourse settled 495.10 points, or 1.26 per cent, lower at 38,645.18; while the broader Nifty tumbled 158.35 points, or 1.35 per cent, to close at 11,594.45.

Equities took a beating on Monday as macroeconomic worries resurfaced. The Trump administration decided not to renew waiver that let countries like India buy Iranian oil without facing US sanctions.However, investor sentiment turned positive in early trade on Tuesday on reports that India has lined up alternative sources to make up for the likely shortfall in supplies after the US decided not to give waiver from its sanctions for buying oil from the Persian Gulf nation, traders said.

“As we head into the week, Q4FY19 numbers will be watched closely by market participants,” said Hemang Jani, Head Advisory, Sharekhan by BNP Paribas, adding that the 2019 general election continued to remain the crucial near term event for the market.

Voting began on Tuesday for 116 Lok Sabha seats, including all constituencies in Gujarat and Kerala, with BJP president Amit Shah, Congress chief Rahul Gandhi and several Union ministers among prominent candidates in the fray.Meanwhile, foreign institutional investors purchased equity worth Rs 73.08 crore on Monday, while domestic institutional investors sold shares of Rs 68.16 crore, provisional data available with stock exchanges showed.