Benchmark indices opened the day higher led by strong global cues. Asian markets were trading higher and Dow Futures also pointed to at leats 0.50 per cent higher openings for the US markets.
The Sensex was trading with gains of 400 points and breached the 40,000 points mark, while the Nifty was higher by 121 points in trade. Leading the set of gainers were some of the beaten down names in the recent carnage including the oil and gas sector.
Shares in Powergrid was up marginally reports that the government's stake in the company had fallen below 409 per cent. Shares in Deepak Nitrate gained almost 2 per cent, after net profits at the company rose 3.9 times to Rs 156.7 crore.
Shares in Shriram Transport too gained ground after net profits at the company for the quarter ending dec 31, 2029 jumped to Rs 882 crores.
Among the top Nifty gainers in Trade were Bharti Infratel and GAIL. Among the stocks that lost ground from the Nifty were Bajaj Auto, Sun Pharma and Hindustan Unilever.
Meanwhile, the Indian rupee opened higher by 15 paise at 71.21 per dollar on Tuesday versus previous close 71.36. Markets are expected to remain volatile, though for the last two days, there has been a smart recovery.