At 13:28IST, the barometer index, the S&P BSE Sensex, was up 378.97 points or 0.47% to 80,339.35. The Nifty 50 index added 98.10 points or 0.40% to 24,418.65.

In the broader market, the S&P BSE Mid-Cap index added 0.29% and the S&P BSE Small-Cap index rose 0.24%. The S&P BSE Mid-Cap index hit an all-time high at 47,659.70.

The market breadth was positive. On the BSE, 1,964 shares rose and 1,895 shares fell. A total of 108 shares were unchanged.

Gainers & Losers:

Maruti Suzuki India (up 7.05%), ITC (up 2.19%), Mahindra & Mahindra (up 2.10%), Britannia Industries (up 1.82%) and Hero MotoCorp (up 1.56%) were major Nifty gainers.

Reliance Industries (down 0.76%), LTIMindtree (down 0.75%), Bharat Petroleum Corporation (down 0.65%) Grasim Industries (down 0.61%), and Kotak Mahindra Bank (down 0.60%) were major Nifty losers

Stocks in Spotlight:

Godrej Consumer Products shed 0.78%. The company said that despite the operating conditions in India continuing to remain soft in the quarter its India business performed well with high-single digit organic volume and mid-single digit value growth.

Century Textiles and Industries gained 1.10% after the company informed that its board is scheduled to meet on 16 July 2024, to consider the proposal of raising of funds up to Rs 1,000 crore through issuance of non-convertible debentures (NCDs) in one or more tranches.

H.G.Infra Engineering added 1.87% after the company entered into an Memorandum of Understanding (MoU) with Ultra Vibrant Solar Energy for the execution of a solar power plant project.

Keystone Realtors advanced 2.09% after the company reported pre-sales of Rs 611 crore in Q1 FY25, showing a growth of 22% YoY basis as compared to the pre-sales of Rs 502 crore recorded in Q1 FY24.

Kalpataru Projects International rose 2.19% after the company said that it has increased fund raising limit via non-convertible debentures (NCDs) by upto Rs 1,600 crore.

Global Markets:

Most European markets opened lower onTuesday as investors in the region weigh up political uncertainty in France after election result.

Asian stocks advanced, mirroring another record close for the S&P 500, as investors awaited Federal Reserve Chair Jerome Powell's testimony before Congress and the kick-off of the U.S. earnings season.

Powell's testimony, starting Tuesday, will be scrutinized for clues about the Fed's monetary policy direction. He faces conflicting pressures from lawmakers: some urging interest rate cuts and others critical of the Fed's recent plans to tighten regulations on Wall Street banks.

In the U.S., both the S&P 500 and Nasdaq indexes extended their gains on Monday, reaching new all-time highs. Investors are looking ahead to key inflation data due later this week.