The BSE Sensex gained over 100 points in opening trading session on Tuesday ahead of the US Fed policy meeting.
The Sensex pared off early losses to reclaim the 33,000-level despite global weakness. Aggressive buying in IT and metal stocks led the recovery momentum.
The 30-share index was trading 144.56 points, or 0.44 per cent, higher at 33,067.68 at 1200 hrs. The Nifty was trading above the crucial 10,100 level, up 0.52 per cent, at 10,146.55.
Major gainers were Tata Steel, Sun Pharma, Adani Ports, Wipro, SBI and Dr Reddy, gaining up to 4 per cent.
Meanwhile, on a net basis, foreign portfolio investors (FPIs) bought shares worth Rs 292.23 crore, while domestic institutional investors (DIIs) sold equities to the tune of Rs 191.52 crore yesterday, provisional data showed.
Asian markets declined amid volatility ahead of new Federal Reserve Chairman Jerome Powell's first policy meeting starting later in the day.