India's benchmark share market index finished in the positive for the second consecutive session Tuesday on fresh buying in stocks of heavyweight new and old economy companies at lower levels.

he stock market barometer 30-share Bombay Stock Exchange sensitive index or Sensex closed at 6,216.77, representing a gain of 21.62 points or 0.35 percent over its previous session's close.

The market index is trading at over 10 percent lower from its all-time high of 6,954.86 touched March 9.

Dealers said the stock market opened for the day with a moderate positive gap after ending over half a percentage higher in the previous trading session.

Sustained institutional buying interest at lower levels helped the market index inch higher all through the trading session and close for the day with a moderate gain.

"The stock market is charting a recovery course cautiously on fresh institutional buying in heavyweight equities," said an analyst with a domestic brokerage firm.

A section of dealers, however, said the overall market sentiment continued to be cautious because of the sluggish overseas institutional investment into the domestic trading ring.

The stock market index movement in coming sessions will depend on the flow of foreign institutional investments into the domestic trading ring, they said.

Foreign institutional investments, which act as the backbone of the liquidity-starved Indian share market, sold $150 million worth of shares in April as against an investment of $1.7 billion in the previous month.

In the old economy sector, shares of heavyweight companies like State Bank of India gained 1.6 percent to touch Rs.598.70 and Reliance Industries, the largest private business conglomerate, ended 1.3 percent higher at Rs.540.75.

Tobacco giant ITC rose 0.6 percent to Rs.1,415, largest carmaker Maruti Udyog was up 1.6 percent at Rs.409.90 and Tata Motors closed with a gain of 0.8 percent at Rs.424.10.