Mumbai: The thirty scrip sensitive benchmark Sensex soared by over 500 points in early trade on Tuesday following a rebound in global markets on policy action hopes.
At 9.41 a.m., Sensex was up 410 points or 1.08 per cent at 38,554.19 while the Nifty traded at 11,297.70, higher by 164.95 or 1.48 per cent.
The 50 scrip sensitive Nifty50 also jumped - 11,293.05, up by over 150 points or over 1.50 percent.
Reasons have been attributed to a string of hope that traders reposed in policy makers such as the Federal Reserve. Thre is a likelihood that the central bank would use its tools and "act as appropriate to support the economy".
Meanwhile, Brent the global oil benchmark edged higher by 2.50 per cent to $ 53.20 a barrel.
On Monday's trade, Sameet Chavan of Angel Broking said that markets started with a huge gap up opening around the previous session high, however, the last hour news of two cases found of coronavirus in Delhi and Telangana created havoc which erased morning gains.
With agency inputs from IANS.