Indian indices ended a percent higher on Tuesday, following gains in Asian peers, mainly boosted by banking, financials and IT stocks. Meanwhile, global stocks steadied, supported by stronger US equity futures and a decline in US and European bond yields.

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The Sensex ended 584 points higher at 51,025 while the Nifty rose 142 points to settle at 15,098.

Broader markets, however, underperformed benchmarks with the midcap and smallcap indices down 0.5 percent and 0.9 percent.

"In a volatile day, the Indian market ended with minor positivity amid mixed global cues. Barring private banks, IT and consumer stocks, all other sectors were most impacted. Fall in US bond yields and stronger US equity futures aided Asian markets to recover from earlier losses," said Vinod Nair, Head of Research at Geojit Financial Services.

On the Nifty50 index, 4 of the top 5 gainers were from the BFSI space. SBI Life, Kotak Bank, HDFC Bank, Tech Mahindra and HDFC were the top gainers, gaining up to 5 percent while BPCL, Tata Steel, GAIL, IOC and Powergrid led the losses.

Among sectors, the Nifty Fin Services rose the most, up 2.2 percent followed by Nifty Bank and Nifty IT, which rose 1.6 percent and 1.3 percent, respectively. However, the Nifty Metal index lost 2.5 percent and Nifty Energy was down 1.3 percent. Nifty Auto and Nifty Pharma also ended the day in the red.

Shares of SBI Life Insurance jumped 5 percent after the insurer reported robust growth in new business premiums (NBP) and improved annual premium equivalent (APE) trends for February.

Meanwhile, Bharat Petroleum Corporation Ltd (BPCL) declined over 4 percent after the company announced its plan to sell its treasury shares through a block deal.

(Edited by : Pranati Deva)

First Published:Mar 9, 2021 3:34 PM IST