As per provisional closing data, the barometer index, the S&P BSE Sensex added 261.16 points or 0.39% to 66,428.09. The Nifty 50 index added 79.75 points or 0.40% to 19,811.50.

In the broader market, the S&P BSE Mid-Cap index rose 0.39% while the S&P BSE Small-Cap index gained 0.70%.

The market breadth was strong. On the BSE, 2,188 shares rose, and 1,501 shares fell. A total of 136 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 3.38% to 10.70.

Buzzing Index:

The Nifty Oil & Gas index rose 0.72% to 7,980.55. The index advanced 0.99% in two trading sessions.

Oil India (up 3.8%), Bharat Petroleum Corporation (up 2.03%), Hindustan Petroleum Corporation (up 1.87%), Indraprastha Gas (up 1.3%), GAIL (India) (up 1.15%), Indian Oil Corporation (up 1.05%), Reliance Industries (up 0.61%), Gujarat Gas (up 0.58%), Mahanagar Gas (up 0.51%) and Petronet LNG (up 0.39%) edged higher.

On the other hand, Castrol India (down 0.72%), Aegis Logistics (down 0.59%) and Oil & Natural Gas Corpn (down 0.19%) declined.

Stocks in Spotlight:

HDFC Bank rose 0.62%. The private lender's net profit surged 50.64% to Rs 15,976.11 crore in Q2 FY24 as against Rs 10,605.78 crore recorded in Q2 FY23. Total income jumped 69.78% year on year to Rs 78,406.23 crore in the quarter ended 30 September 2023.

Jio Financial Services (JFSL) shed 1.53%. The company reported 101.31% increase in consolidated net profit to Rs 668 crore in Q2 FY24 as compared with Rs 332 crore in Q1 FY24. Total revenue from operations jumped 46.82% to Rs 608 crore from Rs 414 crore.

Grasim Industries added 0.20%. The company said that its board has approved the proposal of raising of funds not exceeding Rs 4,000 crore by way of a rights issue to the eligible equity shareholders.

CEAT rallied 5.71% after the company's consolidated net profit soared 3125.5% to Rs 207.7 crore on 5.5% increase in net sales to Rs 3053.32 crore in Q2 September 2023 over Q2 September 2022.

Coal India advanced 1.68%. The central public sector undertaking said that its total supplies during the first 15 days of October 2023 aggregated to 28.6 million tonnes (MTs), up by 16% growth as compared with 24.6 MTs recorded in the same period in October 2022.

Tata Power Company rose 0.67%. The company said that Tata Power Renewable Energy has signed a power delivery agreement (PDA) with Endurance Technologies for the development of 12.5MW AC captive solar plant.

Ajmera Realty & Infra India jumped 6.44%. The company announced that it has bagged a residential redevelopment project in Versova, Mumbai and the target sale value of the same is approximately Rs 360 crore.

ICICI Securities rallied 2.19%. The consolidated net profit rose 41% to Rs 423.63 crore on 45.5% increase in total revenue from operations to Rs 1,249 crore in Q2 FY24 over Q2 FY23.

Global Markets:

Markets in Europe declined while Asian stocks ended higher on Tuesday, recovering a measure of recent losses tracking strength in Wall Street, although markets still remained on edge over the Israel-Hamas war and key upcoming economic readings from China.

New Zealand's consumer inflation hit a two-year low in the third quarter. Consumer prices rose 5.6% from a year ago, slower than the 6% increase in the second quarter, according to Statistics New Zealand data published Tuesday.

China's third-quarter gross domestic product data is due on Wednesday, and is expected to show continued weakness in economic growth.

US stocks ended sharply higher on Monday as investors were optimistic about the start of the earnings season, while transportation and small-cap shares also jumped.

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