Benchmark indices opened the day higher as US Bond yields retreated and global cues continued to remain strong. Overnight US markets also saw good buying with the NASDAQ closing at a new record high.
The Sensex was trading with gains of 200 points, while the Nifty was higher by 55 points.
Shares in Adani Ports gained even after reports that Norwegian pension fund KLP is divesting from Adani Ports and Special Economic Zone on the grounds the company's links with the Myanmar military breach the fund's responsible investment policy, KLP Reuters reported on Tuesday.
Jet Airways shares were locked at the upper end of the circuit filter for the second successive day with gains of 5%, after the National Company Law Tribunal approved Jalan Kalrock Consortium's resolution plan for Jet Airways. Jet Airways it maybe recalled had shut operations for the last 2-years and has sizeable debts to clear towards lenders.
Shares in Donear Industries surged as much as 12% after the company reported higher profit at Rs 4.35 crore in Q4FY21 against Rs 1.8 crore in Q4FY20.
Bharat Electronics shares gained 4% after the company reported higher consolidated profit at Rs 1,368.15 crore in Q4FY21 against Rs 1,046.97 crore in Q4FY20.
Nifty stocks that lost ground in early trade were Tech Mahindra, Divis Labs and Kotak Mahindra Bank.
Meanwhile, the rupee was trading almost little changed at Rs 74.36 to the dollar.