Indian equity benchmarks finished Tuesday's session with sharp gains with headline indices finishing more than two percent higher. All sectoral indices ended the session in the green, with metal and media stocks outperforming.

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NSE

Globally, investors overlooked worries about the impact of steep rate hikes on economic growth after days of heavy selling.

The Sensex surged 1,311.1 points or 2.3 percent to touch an intraday high level of 58,099.9, and the Nifty50 touched an intraday high of 17,287.3, up almost 400 points from its previous close.

IndusInd Bank, Adani Ports, Bajaj Finance and Coal India were amongst the top Nifty gainers.

Mahindra & Mahindra Finance rose more than 11 percent following the quarter two business update. IDFC First, IDFC, L&T Fina and Zee Entertainment were among the top Midcap gainers. MGL surged nearly three percent on CNG price hike in Mumbai.

Marico, GSPL, Dabur and PVR were amongst the top Midcap losers.

All sectoral indices ended the day in the green. Nifty financial and IT were the best performing sectoral indices followed by oil & gas and FMCG.

The rupee ended the session higher at 81.52 against the US dollar.

Overall market breadth was in favour of the bulls, as 2,580 stocks rose and 855 fell on BSE.

Global markets

European markets rose on Tuesday pulled by chipmakers, travel and leisure companies following positive moves across Asia where the China and Hong Kong markets remained shut on account of public holidays. The pan-European Stoxx 600 index was two percent up in early hours.

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