Benchmark indices held on to morning gains, with the Sensex up 168 points at 37,662 and the Nifty up 62 points at 11,119.
PSU Banks were trading higher by 2.67% maintaining the morning momentum, while Nifty IT was down 1.1% as the rupee further strengthened to 71.70/$ in late morning trade.
Stocks were buoyed by positive sentiment owing to RBI's surplus transfer booster and positive global cues regarding the trade deal.
The RBI, on Monday, decided to transfer a record Rs1.76 lakh cr surplus to the Government, which provides the latter greater room for more stimulus measures to lift the economy.
Britannia, Tata Motors, and Ultratech Cement were the top gainers on the Nifty, while Bharti Airtel, Infosys, and TCS were the top losers.
Infosys lost 2.3% after the company closed its Rs8,260cr buyback offer.
On the NSE, 1275 advanced, 424 declined, and 417 remained unchanged.
Meanwhile, oil rose close to $59/bbl as trade truce hopes rose in the global markets.
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