MUMBAI: Benchmark indices Sensex and Nifty were trading higher in early trade on Tuesday following a rally in global markets and easing crude oil prices.

The 30-share BSE Sensex was up 42.51 points to 74,901.50 in opening trade. The 50-share NSE Nifty advanced 39.75 points to 23,454.05.

Later, the BSE benchmark quoted 115.62 points higher at 74,974.61, and the Nifty was up 40.50 points to 23,455.60.

Among the 30 Sensex firms, HDFC Bank, Adani Ports, Eternal, Interglobe Aviation, Maruti and Asian Paints were the winners.

HCL Tech, Infosys, Tech Mahindra, Tata Consultancy Services and Sun Pharma were among the laggards.

Brent crude, the global oil benchmark, traded 0.80 per cent higher at USD 101.1 per barrel.

"Slight cooling in crude prices and US 10-year bond yields has helped to bring risk-on sentiments in the US equity markets. This positive development will reflect in other equity markets, too. In India, there will be renewed focus on the secondary market since the NSE IPO is over and as refunds start coming in that will add to the liquidity in the market," V K Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.

In Asian markets, South Korea's Kospi, Shanghai's SSE Composite index and Hong Kong's Hang Seng index were quoting in positive territory.

US markets ended significantly higher on Monday.

"While Iran and the US exchanged threats of further escalation over the weekend, optimism is building around a potential meeting between US President Donald Trump and Iranian President Masoud Pezeshkian, who is expected to be in New York for the UN General Assembly this week," Ponmudi R, CEO of Enrich Money, an online trading and wealth-tech firm, said.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 576.20 crore on Monday, according to exchange data.

On Monday, the Sensex jumped 564.03 points, or 0.76 per cent, to settle at 74,858.99. Rising for the fourth day, the Nifty was up 67.90 points, or 0.29 per cent, to end at 23,414.30.