Sensex Up 350 Points, Nifty Above 18,200; Tech Mahindra Gains After Q2 Earnings

Buying was visible across the board as all the 15 sector gauges, barring the gauge of Private Bank shares, compiled by NSE were trading higher.

The Indian equity benchmarks surged on Tuesday led by gains in Reliance Industries, Tech Mahindra, HDFC, HDFC Bank, ITC, Bharti Airtel and State Bank of India. The Sensex rose as much as 409 points and Nifty 50 index touched an intraday high of 18,252 amid positive cues from global markets. Japan's Nikkei was up nearly 2 per cent, South Korea's KOSPI index advanced 0.65 per cent, Taiwan Weighted rose 0.61 per cent and Australia's S&P ASX 200 index rose 0.11 per cent.

As of 9:39 am, the Sensex was up 371 points at 61,338 and Nifty 50 index advanced 123 points to 18,248.

Overnight, global stocks rose and Treasury yields dipped on Monday with major Wall Street benchmarks hitting fresh records, buoyed by a robust start to the U.S. corporate earnings season and an improving economic outlook.

The Dow Jones Industrials and S&P 500 closed at record highs on Monday as traders looked ahead to earnings reports.