Stock Market Today: Sensex Rises 400 Points; Nifty Above 21,600. All Sectors In The Green

Stock update: On the 30-share Sensex platform, Wipro, TCS, HCL, TechM, Infosys, L&T emerged gainers. On the downside, Nestle, Asian Paints, Maruti, and HDFC Bank were the losers

The two key equity benchmarks, Sensex and Nifty, on Tuesday jumped higher tracking strong global cues. At 10.05 am, the S&P BSE Sensex gained 397 points to 71,752. On the other hand, the NSE Nifty50 was trading at 21,631, up 119 points.

On the 30-share Sensex platform, Wipro, TCS, HCL, TechM, Infosys, L&T emerged gainers. On the downside, Nestle, Asian Paints, Maruti, and HDFC Bank were the losers. Among specific stocks, Bajaj Auto jumped over 5 per cent after announcing share buyback at Rs 10,000 per share.

A total of 2,202 shares advanced, 883 declined, while 80 remain unchanged.

In the broader market, the BSE Midcap and Smallcap indices were also rose about 1 per cent each.

Sectorally, all the indices have been trading in the green, with IT index advanced 1.5 percent.

In the previous session on Monday, the S&P BSE Sensex plunged 671 points to 71,355, while the NSE Nifty50 closed at 21,513, down 198 points.

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong were trading higher.  Elsewhere in Asia, Japan's Nikkei had soared over 1.5 per cent this morning. Kospi and Taiwan were up around 0.5 per cent each. Overnight, the US market ended with strong gains backed by a rally in tech shares. Nasdaq zoomed 2.2 per cent, the S&P 500 jumped 1.4 per cent and Dow Jones added 0.6 per cent. Shares of Boeing, however, tanked 8 per cent. The US markets ended with significant gains on Monday.

Foreign Institutional Investors (FIIs) bought equities worth Rs 16.03 crore on Monday, according to exchange data.

Global oil benchmark Brent crude climbed 0.38 per cent to $76.41 a barrel.

Meanwhile, the rupee stayed on upward track for the third straight session and rose 6 paise to 83.08 against the US dollar in early trade on Tuesday amid a weak american currency and favourable crude oil prices. A positive cue from domestic equity markets and sustained buying by foreign institutional investors also supported the Indian currency, forex traders said.

At the interbank foreign exchange, the domestic currency opened strong at 83.07 and rose to the level of 83.04 against dollar in initial deals. The local unit then traded at 83.08 against the greenback, registering a rise of 6 paise from its previous close. The domestic currency settled 1 paisa higher at 83.14 on Monday, a day after gaining 9 paise on Friday.