Opening bell: In line with favourable global indicators, Indian market starts off strong on Tuesday.

As trading on the domestic bourses began again after a long weekend, the equities barometers traded with significant gains early in the day.

FMCG, auto, and bankex equities saw the biggest gains. The S&P BSE Sensex, the barometer index, was up 382.70 points, or 0.64%, to 59,845.48 at 09:24 am. To reach 17,796.40, the Nifty 50 index gained 98.25 points or 0.56%. The S&P BSE Mid-Cap index and the S&P BSE Small-Cap index both saw gains of 0.48% in the overall market. Market breadth was positive as 944 equities declined and 1,780 climbed on the BSE and 163 shares all remained unchanged.

Consumer Price Index (CPI)-based retail inflation in India decreased from 7.01% in the previous month to 6.71% in July 2022. Inflation mainly decreased as a result of lower food and beverage prices. In June 2022, India's industrial output as expressed by the Index of Industrial Production (IIP) saw an increase of 12.3%. In May 2022, industrial production increased by 19.6%. According to the data, the IIP increase in June 2021 was 13.8%. India's exports, including goods and services, grew last month. Exports increased by 11.51% over the same time in the previous year and were estimated at $61.18 billion. Additionally, the total amount of imports increased by 42.90% when compared to the same time last year. An estimated $82.22 billion worth of imports was made by the nation in the previous month.

Tuesday's trade in Asian stocks is up as more negative US news has raised some optimism that the Federal Reserve may slow the rate of interest rate increases. Large-cap shares growth helped US equities rise on Monday, continuing the market's recent uptrend on investor confidence that the Federal Reserve can deliver a gentle landing for the economy. Earlier on Tuesday morning, the Singaporean exchange's SGX Nifty was spotted trading 60 points higher. The Hang Seng Index increased by 0.49%, the Chinese Shanghai Composite rose by 0.33%, and the Japanese Nikkei 225 all saw gains.