Benchmark indices were trading higher on Tuesday with the BSE Sensex up 57,999.32 or 370.37 (0.64%) points, and the Nifty high at 17,094.75 or 106.35 (0.63%) as of 13:10 PM.
On Monday, the BSE Sensex closed losing 361 points to 57,629, while the Nifty50 shed 112 points to 16,988 showcasing a bullish reversal.
US stocks jumped on Monday after a deal to rescue Credit Suisse and central bank efforts brought confidence levels back in the financial system.
The Dow Jones Industrial Average rose 382.6 points, or 1.2 percent, to 32,244.58, the S&P 500 gained 34.93 points, or 0.89 percent, to 3,951.57 and the Nasdaq Composite added 45.03 points, or 0.39 percent, to 11,675.54.
Oil prices rebound after hitting lowest since 2021 on banking fears and rose over 1% on Monday after diving to their lowest levels in 15 months as the market worried that risks in the global banking sector could spark a recession.
Brent crude futures for May rose 82 cents, or 1.1 percent to $73.79 a barrel. US West Texas Intermediate crude futures for April gained 90 cents, or 1.4 percent, at $67.64 on the eve of the contract's expiry.
Foreign institutional investors (FII) sold shares worth Rs 2,545.87 crore, whereas domestic institutional investors (DII) bought shares worth Rs 2,876.64 crore on March 20, bringing a balance in the sentiments.
