In the domestic market, Sensex jumped nearly 500 points in early trade on Tuesday amid value-buying in recently hammered stocks even as investors fretted over an impending economic global recession led by Covid-19 pandemic.
After rising over 1,000 points in a highly volatile opening session, the BSE barometer was trading 475.45 points or 1.51 per cent higher at 31,865.52.
Similarly, the NSE Nifty advanced 163 points, or 1.77 per cent, to 9,360.40.
Tata Steel was the top gainer, followed by Maruti, Sun Pharma, HUL, ONGC and Reliance Industries, while HDFC twins, ICICI Bank, Kotak Bank and Titan were the top laggards.
According to traders, despite heightened volatility amid fears of an economic recession, investors began bottom fishing at lower levels.
Elsewhere in Asia, bourses in Shanghai, Hong Kong and Japan were trading on a positive note, while those in Seoul were in the red.
The rupee appreciated 22 paise to 74.03 against US dollar in morning session.
Meanwhile, global oil benchmark Brent crude futures rose over 2.10 per cent to USD 30.67 per barrel.
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