Gains in information technology and automobile shares supported the markets

Domestic stock markets started Tuesday's session on a higher note amid gains in Asian peers. The S&P BSE Sensex index rose as much as 108.73 points to 37,511.22 in early trade, and the broader NSE Nifty benchmark moved to 11,076.30, up 22.4 points from the previous close. Gains in information technology and automobile shares supported the markets however weakness in consumer goods and metal stocks kept the upside in check.

At 9:36 am, the Sensex traded 105.19 points - or 0.28 per cent - higher at 37,507.68, while the Nifty was up 13.95 points - or 0.13 per cent - at 11,067.85.

Top percentage gainers on the 50-scrip index at the time were Infosys, TCS, Tech Mahindra, Wipro, Hero MotoCorp and Dr Reddy's, trading between 1.23 per cent and 2.30 per cent higher.

Infosys, TCS, HDFC Bank and Hindustan Unilever were the top contributors to the advances in Sensex.

On the other hand, Vodafone Idea shares fell as much as 3.17 per cent in early deals, a day after the telecom company said Balesh Sharma stepped down as chief executive officer due to personal reasons. The company's board approved the appointment of Ravinder Takkar as its managing director and CEO for a period of three years.

Analysts say that hopes of market-friendly measures by the government may drive some gains in the near term.

Equities in other Asian markets extended gains amid hopes for stimulus in major economies, with MSCI's broadest index of Asia-Pacific shares outside Japan rising 0.31 per cent.

Japan's Nikkei rose 0.45 per cent. The improved mood was helped by a rally on Wall Street overnight, with the S&P 500 gaining 1.21 per cent.

The Sensex and Nifty had ended 0.14 per cent and 0.06 per cent higher respectively on Monday, extending recent gains to a third straight day.

(With inputs from Reuters)