Indian benchmark indices, Sensex and Nifty, traded higher Tuesday afternoon led by buying in beaten-down metal stocks after a massive sell-off in the previous session. Improvement in other Asian markets after a wave of early selling receded and Wall Street futures managing a solid bounce helped gains in domestic markets.

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At 12:20 pm, the Sensex gained 119.78 points or 0.30 percent to 40,483.10 and the Nifty was trading 34.10 points or 0.29 percent higher at 11,863.50.

Among sectors, buying was witnessed in Nifty Metals, Nifty FMCG, Nifty Realty and Nifty Financial Services while Nifty Pharma and Nifty Auto traded in the red.

JSW Steel, Bharti Infratel, Tata Steel, ZEEL and Coal India led gains among Nifty constituents while Eicher Motors, HCL Technologies, Dr Reddy's Laboratories, Sun Pharmaceutical Industries and GAIL India were the top losers.

Shares of TVS Motor Company plunged more than 6 percent after the company said that the outbreak of pandemic Coronavirus (COVID-19) has led to an impact on the supply of certain components for the production of BS-VI vehicles. The scrip declined 6.34 percent to touch intraday low of Rs 409.75 on the BSE.

Meanwhile, India’s annual gross domestic product growth likely rose to 4.7 percent in the last quarter of 2019 from 4.5 percent the previous quarter, when the growth rate appears to have bottomed out, a February 18-24 Reuters poll found.

Globally, Asian share markets found some stability on Tuesday after a wave of early selling petered out and Wall Street futures managed a solid bounce, allowing investors to take a breather from coronavirus fears.

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