NEW DELHI

Domestic stock market indices were trading higher on Tuesday, tracking positive global trends, led by gains in banks and heavyweight Tech Mahindra post its Q1 earnings. 

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The S&P BSE Sensex was trading around 38,125 levels, up 190 points and the Nifty50 index hovered around the 11,200-mark.

Individually, Tech Mahindra surged over 6 per cent in the intra-day trade after its June quarter profit before tax rose 32.9 per cent sequentially to Rs 1,283 crore.

The precious metal had stormed almost $40 higher at one point to reach $1,980 an ounce, only for a wave of selling to slap it back to $1,947 in wild trade. 

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The Indian rupee gained 4 paise to trade at 74.79 against the American dollar in early deals on Tuesday amid caution ahead of the two-day US Federal Reserve's meeting.

At the interbank forex market, the rupee was trading in a narrow range.

It opened at 74.86 against the US dollar but soon recovered the lost ground and touched 74.79 against the US dollar, up 4 paise over its last close of 74.83.

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(With inputs from agencies)