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This surge can be attributed to the robust performance of three companies — Bajaj Auto, Maharashtra Scooters and Bajaj Finance. Bajaj Auto’s shares have rallied 70% this year, while Maharashtra Scooters advanced 74%. The conglomerate’s flagship entity, Bajaj Finance, has gained 14%, and Bajaj Finserv has risen 10%.

El-Erian said the Fed may well tolerate higher inflation instead of pushing the economy into recession to hit its 2% target. But he also said investors are over-reacting by pricing in sharp rate cuts. Market prices have swung wildly in recent days as traders bet on a drop in borrowing costs amid signs that inflation is falling and comments from Fed Chair Jerome Powell that the actions taken so far have pushed policy "well into restrictive territory."

Venture Capital Fund Fireside Venture Investments has sold partial stake in Mamaearth parent Honasa Consumer through bulk deals on Tuesday.

Brent crude futures rose by 71 cents, or 0.9%, to $78.74 a barrel by 1457 GMT. U.S. West Texas Intermediate crude futures climbed 69 cents, or 0.9%, to $73.73.

BlackRock continues to see opportunities in equities in AI stocks and technology, particularly in the memory sector, as well as quality factors. The firm has a slight underweight to US equities as a whole, though remains favorable on sectors such as industrials and health care.

OPEC+ agreed last Thursday to voluntary supply cuts totalling about 2.2 million barrels per day (bpd), including an extension of existing Saudi and Russian voluntary cuts of 1.3 million bpd.

Weakening data and dovish comments from some Fed officials have sent yields tumbling, with 10-year yields dropping from 16-year highs reached in October. Yields extended their drop on Tuesday after a report showed that job openings fell sharply in October.

Through the sale, the VC fund bagged about Rs 230 crore. As of September end, Fireside held 7.57% in the company. Meanwhile, Norges Bank on account of The Government Pension Fund Global has picked up 0.77% in Honasa Consumer, according to exchange data.

Sectorally, buying was seen in utilities, power, oil & gas, and the public sector while selling was seen in realty, IT, telecom, and healthcare.