The BSE Sensex rose 1.2 percent on Tuesday after the media reported that the government would not target the so-called participatory notes or P-Notes in a blanket manner under its newly proposed General Anti-Avoidance Rule.

BSE Sensex
BSE Sensex Reuters

The main 30-share BSE index rose 1.2 percent to 17,257.36 points, while the 50-share Nifty index rose 1.14 percent to 5,243.15 points.

Infosys was up by 1.59 percent, ITC by 1.5 percent and Hindustan Unilever by 3.15 percent. Shree Renuka Sugars ended 2.13 percent up and Bajaj Hindusthan gained 1.8 percent.

However, Maruti Suzuki ended down by 1.83 percent and Mahindra and Mahindra closed flat following the proposal of the Maharashtrian government to hike in tax on petrol and diesel vehicles by 2 to 4 percent.