The domestic market opened higher on Tuesday, with solid buying sentiment as traders approached the end of 2022.

The main index, the Nifty50, rose more than 50 points to above 18,050, while the S&P BSE Sensex gained more than 250 points to 60,852.

The broader market rose in tandem with the Nifty SmallCap 100, and the Nifty MidCap 100 rose to 1%. All sectors started trading positively, with Nifty Media, Nifty Metal, and Nifty PSU Bank indices up 1%.

Among individual stocks, NTPC rose more than 1% after it signed an agreement with the Indian unit of Italy-based Maire Technimont Group to evaluate green methanol production facilities in India.

Also, shares of Suven Pharma soared more than 1% after global private equity giant Advent International acquired a 50.1% stake in the company for Rs 6,313 crore.