The market extended gains and hit fresh intraday high in mid-afternoon trade, backed by positive opening in the European market. At 14:25 IST, the barometer index, the S&P BSE Sensex, was up 288.20 points or 0.83% at 35,101.19. The Nifty 50 index was up 91.15 points or 0.87% at 10,573.35. Gains were supported by firmness in oil sector stocks. The Sensex regained 35,000 mark in mid-afternoon trade.

Among secondary barometers, the BSE Mid-Cap index was up 0.09%. The BSE Small-Cap index was down 0.07%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was negative. On BSE, 1214 shares rose and 1292 shares fell. A total of 127 shares were unchanged.

Oil stocks advanced. Among state-run oil marketing companies, BPCL (up 3.97%), HPCL (up 3.99%) and Indian Oil Corporation (up 4.47%), edged higher.

Among oil exploration and production companies, Oil India (up 0.78%), ONGC (up 0.64%) and Reliance Industries (up 1.69%), edged higher.

Most power generation stocks rose. Torrent Power (up 1.58%), JSW Energy (up 1.57%), NTPC (up 1.51%) and CESC (up 1.34%), Adani Power (up 0.93%), Reliance nfrastructure (up 0.44%), NHPC (up 0.37%), Tata Power (up 0.34%), edged higher. Reliance Power (down 0.98%), GMR Infrastructure (down 2.47%) and Jaiprakash Power Ventures (down 4.63%), edged lower.

State-run Coal India was up 0.95%. State-run Power Grid Corporation of India was down 1.13%.

On the economic front, India's industrial production grew 4.5% in September compared with the upward revised 4.7% in August, data released by the statistics office showed. August growth had initially been estimated at 4.3%.

Inflation as measured by the Consumer Price Index stood at 3.31% in October compared to 3.70% in September, showed government data released on Monday.

Overseas, European equity markets opened higher on Tuesday, following a pullback in stocks stateside. Investors are keeping a close eye on oil prices, after new comments from President Donald Trump. He said that the group of oil producers OPEC should not cut supply to prop up the market.

Asian shares were mixed on the back of US stocks closing sharply lower Monday. In US, the Dow Jones Industrial Average tumbled 600 points as crude oil prices extended their retreat while a firmer US dollar also sparked worries about the competitiveness of US corporations in an increasingly challenging economic environment.