Key indices recovered in early trade on Tuesday after plunging substantially in the previous session, owing to buying in banking stocks and mixed global trends.

In early trade, the Sensex rose 488.4 points to 58,461.02. Similarly, the Nifty gained 154.55 points to 17,467.45.

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Bajaj Finserv, Bajaj Finance, IndusInd Bank, Maruti, Tata Steel, NTPC, UltraTech Cement, State Bank of India, and Axis Bank were among the top gains on the Sensex. The only laggards were Bharti Airtel and Dr Reddy.

No stock/security has been placed under the F&O ban for August 30. Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.

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Asian markets are trading mostly in green with Nikkei 225 surging 310.12 points or 1.11% to 28,189.08, Jakarta Composite soared 76.52 points or 1.07% to 7,208.57, Taiwan Weighted strengthened 38.04 points or 0.25% to 14,964.23, KOSPI rose 19.95 points or 0.82% to 2,446.84 and Straits Times was up by 15.81 points or 0.49% to 3,238.07. On the flip side, Shanghai Composite declined 18.45 points or 0.57% to 3,222.28 and Hang Seng was down by 186.42 points or 0.93% to 19,836.80.

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The US markets had ended lower on Monday. The S&P 500 fell 27.05 points, or 0.7%, to 4,030.61. The Dow Jones Industrial Average fell 184.41 points, or 0.6%, to 32,098.99. The Nasdaq fell 124.04 points, or 1%, to 12,017.67. The Russell 2000 index of smaller companies fell 16.89 points, or 0.9%, to 1,882.94.

On Monday, the Sensex fell 861.25 points, or 1.46%, to 57,972.62 points. The Nifty dropped 246 points, or 1.4%, to 17,312.90 points.

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Foreign institutional investors (FIIs) have sold shares worth a net Rs 561.22 crore, whereas domestic institutional investors (DIIs) sold shares worth a net Rs 144.08 crore on August 29, as per provisional data available on the NSE.

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Meanwhile, Brent crude, the international oil benchmark, fell 0.83% to USD 104.22 a barrel. In early trade on Tuesday, the rupee rose 7 paise to 79.84 against the dollar, tracking a strong trend in local markets.