Mumbai, The benchmark Sensex advanced over 500 points during the early trade on Tuesday following a rebound in global markets on policy action hopes.

Sentiments across global markets improved over Federal Reserve's statement last week that the central bank would use its tools and "act as appropriate to support the economy".

At 9.41 a.m., Sensex was up 410 points or 1.08 per cent at 38,554.19 while the Nifty traded at 11,297.70, higher by 164.95 or 1.48 per cent.

Brent the global oil benchmark edged higher by 2.50 per cent to $ 53.20 a barrel.

On Monday's trade, Sameet Chavan of Angel Broking said that markets started with a huge gap up opening around the previous session high, however, the last hour news of two cases found of coronavirus in Delhi and Telangana created havoc which erased morning gains.