The benchmark BSE Sensex was trading higher by nearly 130 points on robust foreign fund inflows and a better-than-expected earnings report card by some blue-chip companies so far, besides overnight gains in European and the US markets.

At 12.30 p.m., the 30-share BSE index Sensex was up 126.19 points or 0.42 per cent at 30,448.31 and the 50-share NSE index Nifty was up 30.9 points or 0.33 per cent at 9,476.30.

Among BSE sectoral indices, TECk index gained the most by 0.64 per cent, followed by consumer durables 0.62 per cent, IT 0.57 per cent and auto 0.43 per cent. On the other hand, capital goods index was down 0.05 per cent, metal 0.05 per cent and infrastructure 0.01 per cent.

Top five Sensex gainers were Bharti Airtel (+2.93%), Dr Reddy's (+1.83%), TCS (+1.76%), Tata Motors (+1.6%) and Wipro (+1.19%), while the major losers were ONGC (-1.1%), Asian Paints (-0.88%), Coal India (-0.81%), L&T (-0.34%) and Sun Pharma (-0.19%).

The benchmark BSE Sensex hit fresh all-time intra-day high of 30,518.78 and the NSE index Nifty touched a new peak of 9,490.45.

Asian stocks briefly climbed to a fresh-two year high on Tuesday on the back of an overnight rise in Wall Street, while oil extended gains after major producers Saudi Arabia and Russia said supply cuts needed to continue into 2018.

MSCI's broadest index of Asia-Pacific shares outside Japan edged down 0.1 per cent after hitting its highest level since June 2015 in opening trades. Australian stocks were among rare gainers in the region due to strength in commodity-linked shares.

The S&P 500 and the Nasdaq notched record closing highs on Monday, powered by demand for technology stocks after a global cyber attack and by rising oil prices.

The Dow Jones Industrial Average was up 85.33 points, or 0.41 per cent, at 20,981.94, the S&P 500 gained 11.42 points, or 0.48 per cent, to 2,402.32 and the Nasdaq Composite added 28.44 points, or 0.46 per cent, to 6,149.67.