The Indian stock market continued its upward momentum on Tuesday, with benchmark indices Sensex and Nifty opening higher. Falling crude oil prices and renewed buying by foreign institutional investors supported the positive trend.
 

In early trading, the 30-share BSE Sensex climbed 614.66 points to reach 76,301.63. Meanwhile, the 50-share NSE Nifty gained 149.80 points to trade at 23,588.55.
 

Among the Sensex companies, InterGlobe Aviation, UltraTech Cement, HDFC Bank, Asian Paints, Hindustan Unilever and Infosys recorded the biggest gains. On the other hand, shares of Sun Pharma, Kotak Mahindra Bank, NTPC and Power Grid were trading lower.
 

In the international market, Brent crude, the global benchmark for oil prices, was marginally higher at USD 104.8 per barrel.
 

Foreign Investors Buy Shares Worth Rs 3,115 Crore
 

According to stock exchange data, Foreign Institutional Investors (FIIs) purchased shares worth Rs 3,114.68 crore on Monday.
 

The market had also closed higher on Monday, marking its third consecutive day of gains. The Sensex rose 1,233.25 points, or 1.66 per cent, to settle at a day's high of 75,692.78. The Nifty advanced 387.70 points, or 1.68 per cent, to close at 23,440.80.
 

V K Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, said the prevailing conditions were favourable for the market rally to continue.
 

He noted that Brent crude prices moving towards USD 104 per barrel, reduced investment interest in artificial intelligence-related stocks, strong second-quarter corporate results and foreign investors returning as buyers could provide further support to the market.
 

Vijayakumar also pointed out that an 11.6 per cent single-day rise in the shares of a large company was unusual. However, Reliance Industries recorded such a gain on Monday.
 

Asian Markets Trade Mixed
 

Asian markets showed a mixed trend on Tuesday. South Korea's Kospi and China's Shanghai SSE Composite were trading lower, while Hong Kong's Hang Seng was trading in positive territory.
 

Hariselvan Radhakrishnan, Founder and CEO of HST Wealth, said the decline in international crude oil prices had improved investor confidence.
 

He added that talks between the United States and Iran, being held with Qatar's mediation, had raised hopes of an end to the conflict and the restoration of normal energy supplies through the Strait of Hormuz.
 

According to Radhakrishnan, the upcoming US midterm elections would be the next major event for global markets. Investors are expected to closely monitor their possible impact on fiscal policies, trade and the conflict with Iran.
 

Meanwhile, US stock markets ended Monday's session on a mixed note. The Nasdaq Composite and S&P 500 closed lower, while the Dow Jones Industrial Average finished in positive territory.