Indian stock markets climbed in early trade on Tuesday, tracking a rally in global markets and a decline in crude oil prices. The 30-share BSE Sensex rose 272.87 points to 76,537.20 in early deals, while the 50-share NSE Nifty advanced 69.15 points to 23,921.55.
Market analysts attributed the positive opening to strong global cues, with major Asian and US indices showing gains. The drop in international oil prices also boosted investor sentiment, as lower crude costs are expected to ease inflationary pressures and improve corporate margins.
Broader market indices also traded in the green, with the BSE Midcap and Smallcap indices rising up to 0.5 percent. Sectoral indices were mixed, with IT, banking, and auto stocks leading the gains, while pharma and metal stocks saw some profit booking.
Among individual stocks, Reliance Industries, HDFC Bank, and Infosys were the top contributors to the Sensex rise. Market breadth was positive, with about 1,600 stocks advancing against 1,200 declining on the BSE.
Experts said that the market is likely to remain volatile in the near term due to global uncertainties, but the overall trend remains positive supported by domestic economic fundamentals.
