New Delhi: Markets jumped in early trade tracking gains in auto and FMCG stocks amidst positive global cues.

The BSE Sensex rose 301.48 points or 0.76 percent to 39,876.05 in early trade while the NSE Nifty jumped 75.85 points or 0.65 percent to 11,738.25.

Major gainers in the Sensex pack were Titan, RIL, ONGC, M&M, Ultrachem, Maruti, Axis Bank, HUL, Nestle, Bajaj Auto, HDFC Bank, and Asian Paint, rising upto 4.14 percent. On the other hand, major losers were Bajaj finance, Bajaj Finserve, Powergrid, Infosys, IndusInd Bank, Sun Pharma, Tech Mahindra, Tata Steel, NTPC, HCL Tech, LT and Kotak Bank, falling upto 4.01 percent.

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Exchange data showed that foreign institutional investors bought equities worth Rs 1,101.76 crore on a net basis on Tuesday.

In the previous session, Sensex soared 600.87 points or 1.54 per cent to close at 39,574.57, while Nifty finished 159.05 points or 1.38 per cent higher at 11,662.40.

MSCI`s broadest index of Asia-Pacific shares outside Japan crept 0.2% higher to a fresh two-week peak, led by a 0.8% gain in Australia where an expansionary budget lifted stocks.  Broad gains in Hong Kong lifted the Hang Seng 0.7% while Japan`s Nikkei fell 0.2%, a Reuters report said. S&P 500 futures wobbled either side of flat, it added.

International oil benchmark Brent crude was trading 1.66 per cent lower at USD 41.94 per barrel.