Sensex reclaimed the 49K-mark in early trade today led by gains in large caps such as Reliance Industries, HDFC and Infosys amid a positive trend in Asian markets. Snapping two sessions of losses, Sensex rose 578 points to 49,142 against previous close of 48,564. Nifty too climbed 166 points to touch the intra day high of 14,447.
On Monday, extending fall for the second straight session, Sensex ended 470 points lower at 48,564 and Nifty fell 152 points to 14,281.
On Sensex, Bajaj Finance was the top gainer, rising around 2 per cent, followed by SBI, ONGC, IndusInd Bank, Reliance Industries, HDFC and Axis Bank.
On the other hand, ITC and HDFC Bank were the laggards.
Reliance Industries share rose another 2% to Rs 2,025 against previous of Rs 1,983. On Monday, the share closed 2.37% or Rs 45.90 higher at Rs 1,983 amid reports that Mukesh Ambani's Reliance Retail plans to embed its e-commerce application JioMart into WhatsApp in the next six months.
Another large cap stock Maruti Suzuki share climbed 2.04% after the country's largest carmaker said it has increased the price for select models by up to Rs 34,000 from January 18 to offset adverse impact of rising input costs. The stock rose to Rs 7,990 intra day against previous close of Rs 7,830 on BSE.
On Monday, foreign portfolio investors (FPIs) were net buyers in the capital market as they purchased shares worth Rs 650.60 crore, as per exchange data.
Market cap on BSE rose to Rs 195.40 lakh crore in early trade. Market breadth was positive with 1910 stocks rising against 591 falling on BSE. 112 stocks were unchanged.
On BSE, 149 stocks hit 52-week highs and 18 stocks fell to 52 week lows.
Shares climbed in Asia on Tuesday as the coming changing of the guard in the US raised hopes for more support for the economy and more aggressive measures to fight the pandemic.
Benchmarks rose in Tokyo, Seoul and Hong Kong but slipped in Shanghai. World markets were subdued on Monday, with US exchanges closed for a holiday.
Hong Kong's Hang Seng led the advance, gaining 3.2% to 29,784.44 and the Nikkei 225 in Tokyo gained 1.5% to 28,673.84. South Korea's Kospi jumped 2.7% to 3,095.96. In Australia, the S&P/ASX 500 rose 1.2% to 6,740.60. The Shanghai Composite index was flat at 3,596.10.