The market opened stable mirroring Asia, which in turn was trading strong following the Greece rescue deal. On Monday, international lenders had agreed to bailout the near-bankrupt economy by lending urgently needed tranche of funds.
The package will reduce Greek debt by 40 billion euros, cutting it to 124 percent of gross domestic product by 2020, via a package of steps.
Moving to India, the Sensex was up 107.45 points or 0.58% at 18644.46, and the Nifty was up 30.50 points or 0.54% at 5666.40. About 612 shares have advanced, 143 shares declined, and 2710 shares are unchanged.
However, investors look a bit nervous as most experts warn that the market gains may be capped on the back of parliament logjam and weak rupee. The market is also likely to be volatile ahead of F&O expiry on Thursday as trading is closed tomorrow.
Meanwhile, top gainers on the indices are Dr Reddys Labs, Sterlite Ind, ICICI Bank, Hindalco, Tata Steel, Sesa Goa, Jaiprakash Associates, Cairn India and Jindal Steel.
There were no losers on the Sensex, while on Nifty Power Grid Corp, Sun Pharma, Kotak Mahindra and NTPC were among major losers.
The US markets eased off their lows to close mixed, but gains were limited as concerns over the fiscal cliff. CBOE volatility index ended above 15.
Dow Jones Industrial Average was down 0.33% or 42.31 points at 12967.37. Nasdaq Composite rose 0.33% or 9.93 points at 2976.78. Standard & Poor's 500 was down 0.2% or 2.86 points at 1406.29.
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