The BSE Sensex rose 330 points today, regaining much of the lost ground of

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the previous session, on buying in bluechips such as Reliance Industries and SBI on increased FII inflows and a firm global trend.

The Bombay Stock Exchange 30-scrip Sensex, which had lost 371 points yesterday on profit-booking, spurted 330.25 points, or 1.96 per cent to 17,193.55.

The 50-stock NSE index Nifty recovered 111.95 points, or 2.20 per cent to 5,199.25. It had lost 117.40 points in the last session.

The most-heaviest on the benchmark, RIL shot up 2.51 per cent after a loss of over 3 per cent yesterday.

State-owned SBI jumped 3.53 per cent on the government's decision to infuse Rs 7,900 crore capital in the bank. Top private lender ICICI Bank surged 5.87 per cent on rise in third quarter earnings.

A firm trend in Asian markets and higher openings in Europe amid reports that European leaders have agreed on a treaty to resolve euro-zone debt crisis improved investor sentiment.

The banking index gained the most, rising 3.84 per cent to 11,390.70.

In the IT sector, Infosys rose 1.38 per cent, Tata Consultancy Services by 1.89 and Wipro by 0.88 per cent.

Bajaj Auto, Mahindra and Mahindra, Hero Motocorp, Tata Motors, Jindal Steel, Sterlite Industries, Tata Steel, Sun Pharma, DLF, Hindalco, Larsen and Toubro and BHEL recorded handsome gains.

Markets @ 10.02 AM (PTI)

The BSE Sensex rose more than 1 percent on Tuesday morning, led by gains in index heavyweights Reliance Industries and ICICI Bank, and were poised for their best month in at least ten.

Shares in top lender State Bank of India rose more than 3 percent after it said the Indian government will infuse $1.6 billion into the bank through a share purchase, a move that will shore up its capital base.

Tata Global Beverages jumped as much as 6.2 percent after Starbucks Corp, the world's largest coffee company, signed a deal with the Indian company to open cafes in India.

At 10:02 a.m. (0432 GMT), the main 30-share BSE index .BSESN was up 1.15 percent at 17,056.67, with all but five of its components trading in green. The index had slumped 2.15 percent on Monday, snapping a six-session winning streak.

"With a positive scenario building up on the Greek debt front and with positive global cues, the market has managed to recover," said K.K. Mital, head of portfolio management at Globe Capital Market in New Delhi.

"But volatility and some amount of profit-booking cannot be ruled out as the day progresses," he said.

The main index is up more than 10 percent in January, which would be its first monthly rise in three and the best month since at least March last year. The index gained 9.1 percent in March last year and 11.7 percent in September 2010.

Foreign funds have been net buyers of about $2 billion of Indian shares in January, after net outflows of about $500 million last year.

No. 2 lender ICICI Bank, which is expected to report its fiscal third-quarter net profit rose 12 percent later in the day, gained 2.4 percent to 872.65 rupees. The bank sector index was up 2 percent.

Energy major Reliance Industries, India's most-valuable firm and the heaviest stock in the main index, rebounded 2.3 percent to 812.75 rupees, after shedding more than 3 percent in the previous session.

Traders are also watching out for data on fiscal deficit, consumer price index-based inflation for December and the final 2010/11 GDP due later in the day.

The 50-share NSE index was up 1.03 percent at 5,139.60. In the broader market, there were 887 gainers for 366 losers on total volume of about 140 million shares.

Most other Asian markets were trading higher on Tuesday after Greek Prime Minister Lucas Papademos raised hopes for a deal to be reached this week to avoid a default, but markets were starting to worry that Portugal might need a second rescue.

STOCKS ON THE MOVE

* State-run Punjab National Bank was up 2.3 percent after its board approved issue of shares on preferential basis to the Indian government aggregating to 12.85 billion rupees.

* Drugmaker Glenmark Pharmaceuticals fell 4.7 percent to 297 rupees after its December quarter net nearly halved.

Markets @ 09.00 AM (PTI)

The BSE benchmark Sensex recovered by over 183 points in early trade today on buying by funds and retail investors which took cues from firming global trends.

The Sensex, which had lost 370.68 points in the previous session, recovered by 183.75 points to 17,047.05.

Similarly, the broad-based National Stock Exchange index Nifty, moved up by 58.70 points to 5,146 points with banking, consumer durable, refinery, metal and realty stocks trading in the positive zone.

In the Asian region, the Hong Kong's Hang Seng was up by 0.75 per cent, while Japanese Nikkei was up by 0.24 per cent in the morning trade today.