The two key equity benchmarks, Sensex and Nifty, on Tuesday were trading with modest gains due to lack of triggers amid volatility. At 10.03 am, the BSE Sensex rose 94 points to 71,201. On the other hand, the NSE Nifty50 was trading at 21,405, up 55 points.
On the 30-share Sensex platform, NTPC, PowerGrid, Tata Steel, M&M, L&T, ITC were among gainers. On the down side, Infosys, Maruti, Wipro, HCLTech, TechM, ICICI Bank emerged gainers. Among specific stocks, Infosys shares dropped 2 per cent after a global firm decided to terminate the MoU, which the two companies were to sign. Adani Green shares were up 2 per cent as the company has inked a power purchase agreement (PPA) to supply 1,799 MW of solar power with the Solar Energy Corporation of India.
In the broader markets, the BSE Midcap and Smallcap indices gained 0.42 per cent and 0.38 per cent, respectively.
Sectorally, except IT stock, all other sectoral indices are trading in the green. Nifty IT was down 1 per cent, while Nifty Metal and Auto rose 0.8 per cent each. Nifty Pharma index gained 0.7 per cent.
Sensex and Nifty on Monday (December 25) remained shut on account of Christmas.
Meanwhile, the rupee appreciated 3 paise to 83.13 against the US dollar in early trade on Tuesday, tracking positive cues from domestic equity markets and a weak American currency against major overseas rivals. However, forex traders said the Indian currency remained under pressure due to selling of equities from foreign institutional investors amid volatility in crude prices.
At the interbank foreign exchange, the domestic currency opened at 83.17 and touched the highest level of 83.10 against the greenback. The unit later traded at 83.13 against the dollar, registering a rise of 3 paise from its previous close. On Friday, the domestic currency settled at 83.16 against the dollar.
"The global rally in December led by the mother market US has lifted most markets significantly and India was fortunate to have the lift from the state election results too. The 6 per cent rally in Nifty in December has heated up the market a bit and the bulls are likely to wait for the New Year for further action," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
In Asian markets, Seoul quoted with gains, while Tokyo and Shanghai traded lower. The US markets ended on a mixed note on Friday.
Global oil benchmark Brent crude climbed 0.04 per cent to $79.07 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,828.94 crore on Friday, according to exchange data.