Benchmark indices were trading higher during the afternoon on Tuesday, the rally led by metals and bank stocks.

Market rebounded sharply after two consecutive sessions of heavy selling, opening on a positive note amid positive global cues. Benchmark indices were trading higher during the afternoon amid across the board buying.

At 1 pm, the BSE Sensex was trading at 57,621.76, up 874.62 points or 1.54 per cent. It recorded an intraday high of 57,770.92 and a low of 56,992.27. The Nifty 50 was trading at 17,160.30, up 248.05 points or 1.47 per cent. It recorded an intraday high of 17,210.65 and a low of 16,987.75.

Hindalco, ICICI Bank, Kotak Bank, Adani Ports and Axis Bank were the top gainers on the Nifty 50 while only four stocks- Cipla, Asian Paints, Divi’s Lab and Britannia were trading in red.

Market is likely to remain volatile in the near term owing to uncertainties around the Omicron variant of the coronavirus. The focus is currently on the RBI monetary policy meet that will start from December 8.

All in green

On the sectoral front, all indices were in the green. Metals and financials recorded the highest gains.

Nifty Metal, Nifty Bank, Nifty Financial Services, Nifty Private Bank and Nifty PSU Bank were each trading over 2 per cent higher.

Nifty Auto was up nearly 2 per cent. Nifty Oil & Gas and Nifty Realty were up around 1.5 per cent each.

Broader indices

Broader market also rebounded sharply with broader indices trading in green.

Nifty Midcap 50 was up 0.99 per cent while Nifty Smallcap 50 was up 1.01 per cent. The S&P BSE Midcap was up 1.03 per cent while the S&P BSE Smallcap was up 1.02 per cent.

The volatility index dipped 6.78 per cent to 18.72.

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