The BSE benchmark Sensex advanced 567 points or 0.87 per cent to settle at 66,079. The broader NSE Nifty advanced 206 points or 1.06 per cent to end at 19,746.
From the Sensex pack, Bharti Airtel, Kotak Bank, JSW Steel and Tata Motors were the top gainers, rising 2-3 per cent. While IndusInd Bank, TCS and Titan closed in the red.
The Nifty Realty index climbed 4 per cent following an 8 per cent jump in Prestige Estates and a 6 per cent rise in Sobha. PSU Bank stocks added 2.1 per cent, led by Union Bank of India, and Indian Overseas Bank. The more domestic-focused Nifty Smallcap 100 and Nifty Midcap outperformed the blue-chips, rising nearly 1.4 per cent each.
Meanwhile, the market capitalisation of all listed companies on BSE increased by Rs 3.57 lakh crore to Rs 319.75 lakh crore. The market breadth was skewed in the favour of the bulls. About 2,503 stocks gained, 1,160 declined and 126 remained unchanged on the BSE.
FII and FPIs, on Tuesday saw a net purchase of Rs 1963.34 crore in the cash segment. A total of Rs 6660.24 crore was sales against a total purchase of Rs 8623.58 crore. Domestic institutional investors saw a net sales of Rs 1005.49 crore in the cash segment. A total of Rs 9072.64 crore was sales against a total purchase of Rs 8067.15 crore.
Meanwhile, The Indian market completely recovered Monday’s losses which was mainly due to the Hamas-Israel conflict. Moderation in crude prices and positive global cues on account of dovish remarks from Fed officials, which restrained US bond yields, aided the rebound.
The domestic market's primary focus is currently on the approaching result season, with optimistic expectations on earnings.
Technically, the important key resistances are placed in August Nifty future are at 19,746 levels, which could offer for the market on the higher side. Sustainability above this zone would signal opens the door for a directional up move with immediate resistances seen at 19,770 – 19,880 levels. Immediate support is placed at 19,676 – 19,606 levels.