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Markets open higher tracking firm global cues; Banking stocks lead

Indian equity markets saw a firm opening on Tuesday tracking positive global cues.

The Sensex rose 146 points to 38,813 and the Nifty was up by 48 points at 11,522 in opening trade. (9.26AM)

Sectorally, both PSU and private banking stocks led the gains.

On the other hand, Nifty IT, Metal, and Realty fell in early morning trade.

Nifty Bank was up by over 1% after falling sharply in Monday's session.

The government infused capital in several PSU banks. Among them were Punjab National Bank, which received Rs3,000cr, and Bank of Baroda, which received a capital infusion of Rs7,000cr from the Government of India.

Shares of Yes Bank are up 2.9% after plunging 15% on Monday.

Further, IRCTC's IPO was subscribed 0.81 times on Day 1 of bidding.

India Vix was down 2.29% at 15.5.

Meanwhile, Asian markets traded higher as the Japanese Nikkei bounced back with gains of over 150 points in early trade. The rest of the region also saw gains as equities got a shot in the arm with ETF flows buying Asian stocks.

The Indian rupee opened higher at 70.73/$. 

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