The domestic stock markets are trading in the green in early afternoon, albeit of the day's highs, on the back of positive global cues. At 12:05 pm, the BSE Sensex was at 51,131.50, higher by 105 points or 0.20 per cent and the NSE Nifty was at 15,120.75, up 15 points or 0.10 per cent. The broader markets are going strong, with the BSE Midcap and BSE Smallcap index gaining 0.3 per cent and 0.5 per cent respectively. All the BSE sectoral indices are trading in the green, except for a dip in the telecom and oil indices.
US stocks rallied on Tuesday, with the Nasdaq gaining about 4 per cent to recoup heavy losses from the previous session as US bond yields retreated and investors scooped up battered technology stocks. In Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo were also trading on a positive note in mid-session deals.
Meanwhile, the rupee opened marginally lower at 72.96 per dollar as against the previous close of 72.93.
Foreign institutional investors (FIIs) were net buyers in the capital market as they purchased shares worth Rs 2,801.87 crore on Tuesday and domestic institutional investors (DIIs) bought a net of Rs 1,250.22 crore, as per exchange data.
On the stock-specific front, IndusInd Bank, Eicher Motors and Cipla are among the top gainers on the BSE, adding 1.4 per cent to 3.4 per cent each in early trading. Information technology stocks are also witnessing buying interest, with Infosys, Wipro, HCL Tech and Tech Mahindra gaining 1.- per cent each on the BSE.
ONGC, UPL and Bharti Airtel are among the largecap stocks to buck the strong trend, losing 1-2 per cent each on the BSE.
The BSE market breadth is strong. Out of 2048 stocks traded on the BSE, there are 1378 advancing stocks as against 594 declines.