Equity benchmark indices reversed early losses and closed half a percent higher on Tuesday despite weak global cues. The BSE S&P Sensex closed 261 points or 0.54% higher at 48,438 while the Nifty 50 gained by 67 points or 0.47% to 14,200. Most sectoral indices at the National Stock Exchange were in the positive terrain with Nifty IT moving up by 2.7%, private banks by 1.9% and financial services by 1.2%. But Nifty metal closed 1.3% lower while realty was down by 0.2 %. Among stocks, Axis Bank jumped by 6.3% to Rs 664.15 per share while IndusInd Bank surged by 2.6% to Rs 921.35.Home loan lender HDFC gained by 2.9%, HDFC Life by 2.7%, Asian Paints by 1.6%, Titan by 1.5% and Nestle India by 1.1%.