In the afternoon, the benchmark indices were trading higher, led by gains in banking and auto stocks. Sensex went up 1000 points to 57,754. The 58 and Nifty was trading 278 points higher at 17,190. Kotak Mahindra Bank, ICICI Bank, Axis Bank and Tata Steel, among others, were among the top Sensex gainers, rising up to 3 per cent in afternoon trade.
Dr Reddy's and Asian Paints were the only Sensex losers.
Of the 30 Sensex shares, 28 were trading higher.
BSE mid-cap and small-cap indices rose 230 points and 280 points, respectively.
On Monday the Benchmark indices ended the session on a negative note as Asian markets fell after Chinese property developer Evergrande warned that it may run out of money. A rise in the number of positive cases of Omicron variant to 21 in India resulted in a crash in the equity market for the second consecutive session.
Sensex plunged 1,009 points to 56,687 in the last 15 minutes of trade and Nifty lost 305 points to 16,891. Sensex recovered minor losses to end 949 points lower at 56,747 and Nifty closed 284 points lower at 16,912.
Foreign institutional investors FIIs sold shares worth Rs 3,361. On December 6, domestic institutional investors DIIs bought shares worth Rs 1,701. According to provisional data available on the NSE, 56 crore were reported to be in the range of 56 crore.