All the 15 sector gauges compiled by the National Stock Exchange were trading higher led by the Nifty PSU Bank and Metal indexes' nearly 1% gain
The Indian equity benchmarks extended gains mirroring gains in other Asian markets led by index heavyweights like Reliance Industries, ICICI Bank, HDFC Bank, Infosys, Kotak Mahindra Bank and TCS. The Sensex rose as much as 503 points and Nifty 50 index moved above its important psychological level of 15,950.
As of 10:22 am, the Sensex was up 443 points at 53,677 and Nifty 50 index climbed 133 points to 15,968.
Asian shares inched up on Tuesday morning as positive economic data and hints of easing Sino-U.S. tensions offered some respite to the recent sell-offs, though persistent fears about a global recession and sky-high inflation kept most buyers at bay.
MSCI's gauge of Asia Pacific stocks outside Japan was up 0.3 per cent, having erased part of the early morning gains, news agency Reuters reported.
Japan's Nikkei rose 1 per cent, Hong Kong's Hang Seng advanced 1.2 per cent, South Korea's KOSPI gained 1.66 per cent and Taiwan Weighted advanced 1.1 per cent.
Back home, buying was visible across board as all the 15 sector gauges compiled by the National Stock Exchange were trading higher led by the Nifty PSU Bank and Metal indexes' nearly 1 per cent gain. Nifty Bank, Auto, Financial Services, Media, Private Bank and Oil & Gas shares were also witnessing buying interest.
Broader markets were also witnessing buying interest as Nifty Midcap 100 index advanced 0.5 per cent and Nifty Smallcap 100 index rose 0.7 per cent.
Tata Motors was top gainer in the Nifty 50 basket of shares, the stock jumped nearly 2 per cent to Rs 416. ONGC, Hindalco, Eicher Motors, UPL, Coal India, JSW Steel, Tata Steel, Tech Mahindra, Power Grid, ICICI Bank, Adani Ports and Reliance Industries also rose between 1-1.5 per cent.
On the flipside, Britannia Industries, Asian Paints, Bajaj Auto, Divi's Labs, Hero MotoCorp, ITC and BPCL were among the notable losers.
The overall market breadth was extremely positive as 1,713 shares were advancing while 526 were declining on the BSE.