The gains on Dalal Street were led by buying in energy, banking and metal stocks.
Domestic stock markets started Tuesday's session on a higher note amid unabated buying by foreign investors and strong global cues.The SP BSE Sensex rose as much as 464.98 points to touch 37,519.08, while the Nifty50 barometer of the National Stock Exchange surged by 136.95 points to hit 11,305.00.
The gains on Dalal Street were led by buying in energy, banking and metal stocks.
Heavyweights Reliance Industries, ICICI Bank, Larsen Toubro, HDFC Bank and HDFC contributed the most to the advances on the Sensex.
10 things to know about stock markets today:At 11:03am, the 30-share benchmark index traded 447.27 points or 1.21per cent higher at 37,501.37, and the Nifty was at 11,300.10, up 132.05 points or 1.18per cent from the previous close.Top advancers on the 50-scrip index were Bharti Airtel, Larsen Toubro, ICICI Bank, Power Grid and Titan, trading between 2.19 and 4.43 per cent higher.The Nifty energyindex was trading 1.48 per cent higher at that time.Sustained inflow of foreign funds and positive cues from Asian equities boosted investor's sentiment on Tuesday, analysts were quoted as saying in news agency Press Trust of India (PTI) report.According to Vinod Nair, Head of Research, Geojit Financial Services, markets continued their rally after declaration of election date with opinion poll suggesting an edge to the ruling party."Since many stocks are available at cheap valuation, investors are rushing to high quality mid and small caps to participate in the pre-election rally," he said, adding that market is also awaiting CPI (Consumer Price Index) inflation data, scheduled for release later in the day.Asian sharesrose after the European Commission agreed to changes in a Brexit deal ahead of a vote in the British parliament on a divorce agreement.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 1.08 percent.The rupee, meanwhile, strengthened by 25 paise to 69.64 against the dollar in early trade on Tuesday,Brent crude futures, the global oil benchmark, rose 0.39 per cent to quote at $66.84 per barrel.
Oil prices rose on account of healthy demand and output cuts led by producer group Organization of the Petroleum Exporting Countries (OPEC).On a net basis, foreign institutional investors (FIIs) bought shares worth a net of Rs 3,810.60 crore on Monday, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 1,955.55 crore, provisional data available with NSEshowed.
(With inputs from agencies)