The S&P BSE benchmark Sensex trimmed initial gains but was still quoted up 46 points in the late morning trade in view of monthly expiry in the derivatives segment that supported covering up of pending positions by speculators.
Firm Asian cues also gave a boost to the market with consumer durables, auto, power, capital goods and realty sector stocks trading up on fresh buying support from operators.
Foreign institutional investors (FIIs) bought shares worth a net Rs. 40.67 crore on Tuesday, as per provisional data from the stock exchanges.
The 30-scrip Sensex resumed higher at 21,051.00 and advanced further to 21,088.55 before quoting at 21,078.64 at 1030 hrs, showing a gain of 45.93 points, or 0.22 per cent, from its last close.
The 50-share Nifty also moved up 17.30 points, or 0.28 per cent, to 6,285.70 at 1030 hrs.
Brokers said covering-up of short positions by participants as today being the last session of current month expiry in the derivatives segment and a firming trend in the Asian region, mainly influenced the trading sentiment.
Major gainers were ONGC (1.47 per cent), Tata Power (1.28 per cent), SSLT (1.21 per cent), Bharti Airtel (1.20 per cent) and Sun Pharma (1.03 per cent).
Led by Japanese stocks, Asian stocks rose in early trade.
Key indices in Taiwan, Japan, Singapore and South Korea rose by 0.17 per cent to 0.91 per cent while China’s Shanghai Composite fell 1.03 per cent.
Hong Kong’s markets are closed on Thursday for a public holiday.