Mumbai: The domestic equity indices surged over 1 per cent on Tuesday, with the BSE Sensex gaining over 400 points after the European Commission and the UK agreed to "legally binding" changes in the Brexit deal ahead of the vote in the British parliament.
The Nifty50 on the National Stock Exchange crossed the 11,250 mark during the day.
European Commission President Jean-Claude Juncker and British Prime Minister Theresa May on Monday said that they agreed to "clarifications and guarantees" regarding the Brexit provision to prevent the return of a hard border between the Irish Republic and the UK province of Northern Ireland.
The announcement has boosted all the major Asian markets.
In the domestic markets, higher inflow of Foreign Institutional Investments (FII) also supported the gains, analysts said.
All the sectoral indices traded in the green led by realty, capital goods and consumer durable stocks.
At 11.12 a.m., the Sensex traded 37,494.50, higher by 440.40 points or 1.19 per cent from the previous close of 37,054.10 points.
It had opened at 37,249.65 and touched an intraday high of 37,519.08 and a low of 37,230.85 points.
The Nifty50 traded higher by 1.17 per cent or 130.65 points at 11,298.70 points.
Stock-wise, the top gainers on the Sensex so far were Bharti Airtel, Larsen and Toubro and ICICI Bank, while the only losers were Hero MotoCorp, Infosys, Bajaj Auto and ONGC.