Indian equity benchmarks ended higher after a volatile trading session on Monday. Traders hoped that the Federal Reserve will move away from its aggressive monetary policy. Lower domestic inflation eased sentiment further. Markets were cautious after World Bank said that India needs to invest $840 billion over the next 15 years to upgrade its urban infrastructure to meet the requirements of its fast-growing population in cities.

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The Sensex closed 248.84 points or 0.40% higher at 61,872.99. The Nifty rose 74.25 points or 0.41% to 18,403.40. 

The broader indices ended mixed with the BSE MidCap index gaining 0.08% and the SmallCap index up by 0.01%. 

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The top losing sectoral indices on the BSE were Oil & Gas down by 0.99%, Telecommunication 0.79%, Auto 0.75%, Bankex 0.70%, and Utilities 0.53%. While Metal up 0.60%, Capital Goods 0.21%, Realty 0.08%, Industrials 0.04%, and FMCG 0.03% were only gaining sectoral indices on BSE.

Top gainers on the Sensex were Powergrid up by 2.20%, ICICI Bank 1.92%, Bharti Airtel 1.64%, Ultratech Cement 1.56%, SBI 1.41%, Dr Reddy’s Labs 1.41%, Titan Company 1.22%, Mahindra & Mahindra 1.09%, Asian Paints 0.89%, and Axis Bank 0.84%.

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Laggards from the Sensex pack were Bajaj Finserv down by 0.76%, ITC 0.60%, Reliance Industries 0.43%, Sun Pharma 0.33%, Nestle India 0.16%, Tata Steel 0.14%, Kotak Mahindra Bank 0.09%, TCS 0.04%, and Hindustan Unilever 0.03%.

The rupee gains 17 paise to close at 81.11 against the US dollar on Tuesday.

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Asian markets settled higher with the KOSPI Composite up by 0.23%, the Nikkei 225 up by 0.10%, Shanghai Composite up by 1.64%, and the Hang Seng up by 4.11%.

European stock exchanges were trading mixed in mid-session deals. The US equity markets ended with losses on Monday.

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Brent crude futures, the international oil benchmark fell 1.47% to $91.77 per barrel.

According to stock exchange data, foreign institutional investors purchased shares worth a net of Rs 1,089.41 crore on Monday.