Benchmark indexes rose dramatically on Tuesday after sliding for the previous two days, with the Sensex rising 657.67 points in early trade on the back of a recovery in global markets and buying in index heavyweights Reliance Industries and Infosys.

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In early trade, the 30-share BSE benchmark was trading 657.67 points higher at 57,237.56. The Nifty rose 204.35 points to 17,158.30 on the NSE.

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IndusInd Bank, M&M, Bajaj Finance, Sun Pharma, Hindustan Unilever, Infosys, ITC, Axis Bank, Bajaj Finserv, and Titan were among the leading gainers in early trade on the 30-share Sensex pack.

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The broader indices were trading in green with the BSE Midcap index surging 1.49%, while the Small cap index was up by 1.19%. The top gaining sectoral indices on the BSE were Power up by 2.17%, Realty up by 2.12%, Auto up by 2.10%, Utilities up by 2.08%, FMCG up by 1.84%, while there was no loser in BSE sectoral front.

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Asian markets are trading mostly in green with Nikkei 225 surging 214.80 points or 0.81% to 26,805.58, Hang Seng jumped 362.69 points or 1.83% to 20,232.03, Taiwan Weighted rose 57.36 points or 0.35% to 16,678.26, KOSPI added 15.51 points or 0.58% to 2,672.64 and Shanghai Composite edged up by 27.42 points or 0.94% to 2,955.93. On the other hand, Straits Times fell 10.09 points or 0.30% to 3,329.50 and Jakarta Composite was down by 24.83 points or 0.34% to 7,191.15. 

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The latest bout of turmoil for Wall Street saw U.S. equities storm back from significant losses in the morning to post gains on Monday. After reversing an early 1.7% drop, the S&P 500 rose 24.34 points, or 0.6%, to 4,296.12. Stocks of internet-related firms led the way, including Twitter, which soared 5.7% after agreeing to sell itself to Elon Musk.

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According to stock market statistics, foreign institutional investors maintained their selling binge on Monday, unloading shares worth Rs 3,302.85 crore.

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Meanwhile, Brent crude, the international oil benchmark, rose 1.26% to USD 103.61 a barrel. In early trade on Tuesday, the rupee rose 19 paise to 76.45 against the US dollar, following favourable trends in Asian and developing market currencies.