Mumbai, Indian stock markets witnessed a rally on Tuesday with the BSE Sensex gaining over 1,500 points to reclaim the psychological level of 29,000.

The gains on the Indian stock markets were in line with the Asian indices which rose on signs that the rate of coronavirus-related deaths globally is dropping.

At 12.07 p.m., Sensex was trading at 29,136.53, higher by 1,545.58 points or 5.60 per cent, from the previous close of 27,590.95. It had opened at 28,898.36 and has so far touched an intra-day high of 29,180.31 and a low of 28,602.31.

The Nifty50 on the National Stock Exchange (NSE) was trading at 8,529, higher by 445.20 or 5.51 per cent from its previous close.

The gain across all sectors was led by the banking, healthcare and energy stocks.

Among the Sensex stocks, IndusInd Bank, Axis Bank, Hindustan Unilever gained the most while Bajaj Finance was the only loser so far.