Sensex and Nifty advanced in early trade on Tuesday, supported by buying in bank stocks and Reliance Industries, along with positive global market cues.

Market benchmark indices Sensex and Nifty climbed in early trade on Tuesday, extending their previous session's rally, aided by buying in bank stocks, Reliance Industries and positive global cues. The 30-share BSE Sensex advanced 120.22 points to 72,535.41 in early trade. The 50-share NSE Nifty was up 47.15 points to 22,603.10.

From the 30 Sensex firms, Trent surged over 11 per cent. Kotak Mahindra Bank, Axis Bank, Hindustan Unilever, Reliance Industries and InterGlobe Aviation were also among the winners. Tech Mahindra, ITC, Mahindra & Mahindra and Infosys were among the laggards.
"Indian equity markets are expected to remain broadly steady, with easing crude prices providing some support to market sentiment. WTI crude is currently trading around the USD 89–90 per barrel range after oil prices declined amid signs of improving crude shipments from the Middle East," Ponmudi R, CEO of Enrich Money, an online trading and wealth-tech firm, said.
Asian markets are trading marginally higher in early trade providing a mildly supportive global cue for Indian equities, he added. Brent crude, the global oil benchmark, traded 0.16 per cent higher at USD 100.5 per barrel. In Asian markets, Japan's Nikkei 225 index and Hang Seng index quoted in positive territory.
US markets ended higher on Monday. "Positive overnight cues from global equities should support the opening, although the rise in the US 10-year Treasury yield to 5.31 per cent could limit follow-through by keeping foreign flows and emerging-market valuations under pressure," Hariselvan Radhakrishnan, Founder & CEO of HST Wealth, a Research Analyst firm, said.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,699.14 crore on Monday, according to exchange data. On Monday, the Sensex jumped 472.77 points, or 0.66 per cent, to settle at 72,382.47. The Nifty climbed 133.80 points, or 0.60 per cent, to end at 22,555.75.


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