After a historic fall on Monday, Indian stock markets opened with strong gains on Tuesday following global peers. Investors' sentiment improved after the US Federal Reserve pledged to spend as much as needed to steady the financial system. At 9:20 am, the Sensex was 1,300 points higher at 27,294 and Nifty was trading 4.85% in the green at 7,979. Axis Bank, HCL Tech, Hindustan Unilever, Bajaj Finserv and Bajaj Finance were the top Nifty movers. 48 of the total 50 stocks in the index were trading at higher levels. The rupee opened at 76.07 after closing at a lifetime low of 76.22 against the US dollar.