Indian Indices ended over 1.5 percent higher on Tuesday, snapping losses of the previous two sessions, as markets witnessed massive buying across sectors.

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The Sensex ended 834 points higher at 49,398 while the Nifty rose 240 points to settle at 14,521.

Broader markets also rose in trade with the Nifty Midcap index up 2.3 percent and the Nifty Smallcap index gaining 1.8 percent.

"Bulls took control after two days of massive selloff, tracking positive cues from Asian markets and in expectation of a bigger US stimulus to keep the liquidity alive. Buying was seen across sectors with realty and PSU Banks outshining. The current market will get further boost by foreign inflow if additional US stimulus kicks in. However, recent volatility in the market has increased due to concerns over high valuations and bond yields, investors should be watchful," Vinod Nair, Head of Research at Geojit Financial Services.

On the Nifty50 index, Bajaj Finserv, Tata Motors, Bajaj Finance, Sun Pharma and Grasim were the top gainers while Tech Mahindra, ITC, M&M, and Britannia were the only stocks in the red for the day.

All sectors were also positive in trade today. Nifty Realty surged the most, up over 4 percent followed by Nifty Metal which rose 3 percent. Nifty Fin Services added 2.3 percent while the banking and auto sectors rose around 1.5-2 percent each.

Tata Motors jumped over 5 percent after brokerage house CLSA maintained a positive stance on the stock and said that the firm is its top 2021 pick in the Indian auto industry. It retained a 'buy' call with the target at Rs 290 per share.

Indiabulls Real Estate surged over 11 percent after the company posted robust earnings for the December quarter. The real estate firm reported a 64 percent rise in YoY net profit at Rs 80.69 crore as against Rs 49.27 crore in the year-ago period.

India Cements rose 4 percent after ace investor Radhakishan Damani hiked stake in India Cements during the December 2020 quarter. Radhakishan Damani increased its stake in the firm by 0.54 percent in the third quarter of FY21.

(Edited by : Pranati Deva)

First Published:Jan 19, 2021 3:34 PM IST