The Sensex rose more than 300 points in early trade on Tuesday, led by advances in index heavyweights HDFC, Maruti Suzuki, and ICICI Bank, amid a generally favourable trend in global equities markets.

Furthermore, dealers noted that a drop in global crude prices aided the market mood.

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The 30-share BSE barometer was up 317.22 points to 57,910.71. Similarly, the NSE Nifty increased by 93.45 points to 17,315.45.

The top gainers in the 30-share pack were UltraTech Cement, HDFC, Asian Paints, Bharti Airtel, Maruti Suzuki, and ICICI Bank. ITC, Tata Steel, and NTPC, on the other hand, were among the laggards.

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The BSE index rose 231.29 points, or 0.40%, in the previous session to close at 57,593.49. The NSE Nifty regained 69 points (0.40%) to 17,222.

“US equities ended higher after a choppy session, despite fears of the FED increasing interest rates… The fall in crude prices supported market rally across economies. The Nasdaq Composite jumped 1.31 per cent, the Dow Jones Industrial Average increased 0.27 per cent while the S&P 500 climbed 0.71 per cent,” said Mitul Shah, Head of Research at Reliance Securities.

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Other Asian bourses are trading in the green in Tokyo, Seoul, and Hong Kong, while Shanghai is trading modestly down during mid-session trades. On Monday, stock markets in the United States concluded with gains.

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According to stock exchange statistics, foreign institutional investors (FIIs) continued to be net sellers in the capital market on Monday, selling shares worth Rs 801.41 crore.

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Meanwhile, Brent crude, the international oil benchmark, fell 1.30% to USD 111.02 a barrel. In early trade, the rupee climbs 23 paise to 75.93 against the US dollar.