Equity benchmark Sensex rallied 478 points on Tuesday, driven by gains in index majors Reliance Industries, HDFC Bank and ICICI Bank amid positive cues from global markets and sustained foreign fund inflows. The BSE Sensex ended 477.54 points or 1.26 per cent higher at 38,528.32, while the NSE Nifty surged 138.25 points or 1.23 per cent to 11,385.35.
UltraTech Cement was the top gainer in the Sensex pack, rising over 3 per cent, followed by Kotak Bank, ICICI Bank, Asian Paints and Tata Steel.
Reliance Industries and HDFC Bank added most to the gains on the index.
On the other hand, Tech Mahindra, HCL Tech, Bajaj Auto and Power Grid were among the laggards.
According to traders, buying in index heavyweights led benchmarks higher amid sustained foreign fund inflows.
Foreign institutional investors bought equities worth Rs 332.90 crore on a net basis on Monday, provisonal exchange data showed.
Largely positive cues from global markets too supported domestic indices, they said.
Bourses in Shanghai and Hong Kong ended on a positive note, while Tokyo and Seoul were in the red.
Stock exchanges in Europe were trading with significant gains in early deals.
Global oil benchmark Brent crude was trading 0.37 per cent lower at USD 45.20 per barrel.
In the forex market, the rupee settled 12 paise higher at 74.76 against the US dollar.