The Sensex rose as much as 309 points to hit an intraday high of 50,961.
The Indian equity benchmarks moved higher on Tuesday paced by gains in metal, FMCG and Media shares. The Sensex rose as much as 309 points to hit an intraday high of 50,961 and Nifty 50 index touched an intraday high of 15,293.85. HDFC, Infosys, Asian Paints, Hindustan Unilever and Larsen & Toubro were among the top movers in the 30-share Sensex.
As of 9:24 am, the Sensex was up 225 points at 50,876 and Nifty 50 index climbed 71 points to 15,269.
Investor mood was lifted as data from the health ministry showed that daily cases of the novel coronavirus stayed below the 300,000-mark for the ninth straight day.
Buying was visible across board as all the 11 sector gauges compiled by the National Stock Exchange were trading higher led by the Nifty Metal index's 1.5 per cent gain. Nifty Media, Auto, FMCG and Realty Indices also rose between 0.5-1 per cent.
Mid- and small-cap shares were witnessing buying interest as Nifty Midcap 100 index rose 0.7 per cent and Nifty Smallcap 100 index advanced 0.64 per cent.
JSW Steel was top Nifty gainer, the stock rose nearly 4 per cent to Rs 706. Tata Steel, Hindalco, Asian Paints, Titan, Mahindra & Mahindra, Nestle India, Bajaj Finserv, Hindustan Unilever, Eicher Motors, Britannia Industries, Hero MotoCorp and Tata Motors also rose between 1-2.4 per cent.
On the flipside, HDFC Bank, Bharat Petroleum, Grasim Industries, IndusInd Bank, Axis Bank, Dr Reddy's Labs and State Bank of India were among the notable losers.
