The Sensex on Tuesday rose as much as 495 points in intraday trade tracking higher global markets and upbeat sentiment after government data revealed that retail inflation dropped to an 18-month low of 2.19% in December 2018, creating headroom for the RBI to cut interest rate in its monetary policy review next month.
Sensex was up 464.77 points or 1.30% at 36318.33, while the Nifty was higher by 149.20 points or 1.39% at 10886.80.
The market breadth was also positive with 1,561 stocks advancing on the BSE while 1,007 declining.
The rupee breached the 71 mark against US dollar. The benchmark Brent crude futures rose 1.17 per cent to $59.68 per barrel.
Asian stocks rose today, supported by a bounce in Chinese shares amid hopes for government stimulus, while sterling braced for the vote in parliament over the British government’s plan to exit the European Union.