The Nikkei share average rose 2.6% to close at 15,195.77 points, more than recouping Tuesday's losses.
Markets have witnessed a gap down opening mirroring losses in the global equities with US markets taking a hit on worries about the health of Chinese economy.
Markets end higher ahead of Fed outcome, China stimulus
Sensex gained 38.18 points or 0.15% at 25,918.95 and Nifty ended higher by 12.50 points or 0.16% at 7,739.55.
Investors booked profits at higher levels despite the growth oriented Budget.
The 30-share Sensex ended lower by 61 points at 29,122 mark and the 50-share Nifty slipped by 12 points to close at 8,797.
The 30-share Sensex dropped 298 points to end at 27,209 and the 50-share Nifty has lost 93 points to end at 8,174.
The 30-share BSE Sensex closed down 162 points at 28,338 and the 50-share Nifty was down 67 points at 8,463.
Engineering major BHEL rebounded from its day's lows to end around 1% higher.
Shedding its gains from Monday, NIkkei has declined around 0.7% while Hang Seng and Shanghai Composite were trading marginally lower.
The 30-share Sensex ended down 35 points at 26,349 and the 50-share Nifty ended down 20 points at 7,864.
BSE Mid-cap and BSE Small-cap lost 2.5% and 3.1% after oil prices soared
The market breadth in BSE remains positive with 1,554 shares advancing and 1,196 shares declining.
The 30-share Sensex gained 321 points to end at 26,430 and the 50-share Nifty surged 100 points to end at 7,879.
Sensex ended above 26,000 led by telecom shares amid TRAI's spectrum sharing norms.
FIIs pump in Rs 2,075 crore in past three trading sessions.