Benchmark indices opened the day higher, as global cues were extremely strong, after the Dow Jones jumped 900 points, on hopes of a stimulus and positive developments for a vaccine. Most Asian markets were trading with gains of 1-2 per cent.
The Sensex too was trading higher, after the huge loss of 1,000 points seen on Monday, and was up 448 points, while the Nifty gained 119 points in trade at 8942 points.
Shares in Bharti Airtel was up 5 per cent despite the telecom major reporting a net loss of Rs 5,237 crore in the quarter ended March, compared with a profit of Rs 107.2 crore quarter-on-quarter.
Vedanta was trading marginally lower, after reports that the board has approved the proposed de-listing of the mining company's shares from the BSE and NSE.
AU Small Finance Bank saw its shares gain 2 per cent, despite reports that Chiranjee Lal Agarwal, one of the promoters of AU Small Finance Bank, sold 25 lakh shares of the company for Rs 103 crore through an open market transaction.
Tata Consumer Products shares were up more than 1 per cent, after the company said it will buy entire remaining stake in NourishCo Beverages.
Meanwhile, the rupee was lower against the US dollar at 75.91 to the dollar.