Sensex Atempts to Recover

BSE Sensex rose 347.9 points or 0.6% to 60,419.3 in morning trade on Tuesday, rebounding from a decline in the prior session, amid mixed global cues and a fall in oil prices.

Traders were also upbeat after news that the government cut windfall tax on locally produced crude oil and exports of aviation turbine and diesel.

Locally, India's wholesale price inflation eased to a 22-month low of 4.95% in December.

In China, the fresh data showed China's 2022 GDP growth was at 3%, the second softest rate since 1976, and missing the official target of around 5.5%.

Early gainers were consumer durables, tech, financial services, and auto.

Reliance Industries and Oil of India rose 0.9% and 0.7%, respectively, after the government cut windfall tax.

Federal Bank gained 0.5%, after posting a 54% yoy jump in its net profit for the December quarter.