Domestic stock markets reversed early weakness to surge in afternoon trade on Tuesday. The S&P BSE Sensex index rose as much as 174.01 points to touch 38,205.14, and the NSE Nifty benchmark climbed to 11,397.10, up 50.9 points from the previous close. A spike in consumer goods, information technology and energy stocks supported the upmove in the markets however losses in pharma and state-run banking stocks kept the upside in check.
At 2:15 pm, the Sensex traded 157.29 points – or 0.41 per cent – higher at 38,188.42, while the Nifty was up 48.60 points – or 0.43 per cent – at 11,394.80.
Top percentage gainers on the 50-scrip index at the time were Kotak Mahindra Bank, Power Grid, Hero MotoCorp, ITC and Asian Paints, trading between 2.66 per cent and 3.68 per cent higher.