On Tuesday, Indian stocks boosted IT stocks. Global equities advanced ahead of slew of central bank meetings, beginning with the Federal Reserve of the United States.

The Nifty 50 index of the NSE had risen 0.51 percent to 15,005.85, while the S&P BSE Sensex by 0457 GMT. The BSESN index increased 0.61 percent to 50,703.15. Both indexes fell 0.7 percent on Monday, weighed down by rising COVID-19 cases and poor economic results. Due to a revival in domestic COVID-19 infections and growing U.S. bond yields, Indian equities trimmed their positions in March, taking the monthly gains to just over 3%, as compared to a 6.6 percent increase in February.

V.K. Vijayakumar, chief investment strategist at Geojit Financial Services says, "We are undergoing highly volatile period where the market moves on a regular basis and keeps reacting to big triggers."

Markets are becoming excessively volatile due to bear-hammering and short-covering.

Index heavyweights Infosys INFY.NS and Tata Consultancy Services TCS.NS were among the top Nifty 50 gainers. NIFTYIT is up 1.34 percent, the most among sectoral indices.

Asian Paints ASPN.NS, which lost more than1% in the previous two sessions, added 2.8 % .

Metal stocks defied the trend. After closing 1.04 percent, NIFTYMET fell down to 1.23 percent.

Tata Communications TATA.NS dropped 6.2 percent after the government said it would sell up to a 10% stake in the telecommunications business. With MSCI's broadest index of Asia-Pacific shares outside Japan, Asian stocks followed Wall Street's upward trend overnight. The price of MIAPJ0000PUS has increased by 0.7 percent. GLOB/MKTS