The benchmark BSE Sensex gained 120 points and the NSE Nifty ended below the 7,900-mark on Tuesday after having traded about 0.80 per cent higher through most part of the day.
The 30-share index rose 120.38 points or 0.47 per cent to 25,773.61. The gauge had gained 163.66 points in the previous session.
The NSE Nifty jumped 30 points or 0.38 per cent to 7,890.75.
Barring power, FMCG, metal and telecom, all other BSE sectoral indices ended in the positive zone. Among them, oil and gas index gained the most by 1.2 per cent, realty 0.79 per cent, capital goods 0.55 per cent and auto 0.58 per cent.
Top five Sensex gainers were ONGC (+3.75%), Axis Bank (+3.2%), HDFC (+2.08%), Asian Paints (+1.8%) and M&M (+1.7%), while the major losers were NTPC (-2.43%), Adani Ports (-1.45%), HUL (-1.3%), Reliance (-0.84%) and HDFC Bank (-0.80%).
Brokers said the sentiment remained positive following exit polls at the end of polling in Assam, West Bengal, Tamil Nadu, Kerala and Union Territory of Puducherry showed BJP winning Assam elections for the first time.
Besides, a firm trend in other Asian markets and overnight gains in the US too had a positive impact on domestic markets.
A report by SMC Global said: "Asian stocks rose for a second day, tracking a gain in US equities as Apple Inc. jumped after Berkshire Hathaway Inc. disclosed a stake in the iPhone maker and oil companies climbed on higher crude prices. US stocks closed higher Monday, rebounding after three straight weeks of declines, as a surge in oil prices and a rally in tech stocks overshadowed weaker-than expected manufacturing data from the New York region. Homebuilder confidence in the US continued to hold steady in the month of May, the National Association of Home Builders revealed in a report. The report said the NAHB/Wells Fargo Housing Market Index came in at 58 in May, unchanged from the three previous months. Economists had expected the index to inch up to 59."
Asian shares recovered from two-month lows on Tuesday after a rebound in technology giant Apple Corp and oil price gains boosted Wall Street.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.4 per cent, extending the recovery from its two month low set on Friday. Japan’s Nikkei gained about 0.8 per cent.