Indian shares started higher on Tuesday led by gains in banking and auto stocks amid positive global cues.

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At 9:15 am, the Sensex opened 0.62 percent, or 322.2 points, higher at 52,694.89, while the Nifty50 index opened at 15,794.00, up 101.40 points, or 0.65 percent.

Broader markets supported the rally with the smallcap and midcap indices trading higher.

Barring Nifty IT, all the sectoral indices are in the green with Nifty Realty, Nifty PSU Bank, Nifty Auto and Nifty Metals rallying the most.

ICICI Bank, Bajaj Finance, Eicher Motors, Shree Cement and Hindalco Industries led gains among Nfty50 constituents, while Adani Ports & SEZ, tech Mahindra, Divi's Laboratories, Wipro and HCL Technologies led the losses.

Shares of Sunteck Realty jumped over 6 percent after the company’s pre-sales grew by 74 percent YoY in Q1FY22 to Rs 176 crore, and collections grew by 165 percent YoY to Rs 172 crore.

Meanwhile, in Asia, shares traded mostly higher as investors reacted to the release of China’s trade data for June. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 1.11 percent higher, said a Reuters report.

Crude oil prices rose, recovering from the previous day’s drop, as expectations of further declines in US crude inventories outweighed fears that spreading COVID-19 variants could derail a global economic recovery.

Brent crude for September climbed 25 cents, or 0.3 percent, to $75.41 a barrel, after losing 0.5 percent on Monday. US West Texas Intermediate crude for August was at $74.33 a barrel, up 23 cents, or 0.3 percent, having fallen 0.6 percent the previous day.

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