Indian equity benchmarks were trading in the positive territory during the afternoon session on Tuesday as investors indulged in buying activity amid optimism ahead of the release of key economic data, consumer price index (CPI) for November, later in the day and tracking mixed cues from fellow Asian peers.
At 1:21 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 26,584.59, up by 69.35 points or 0.26 per cent while the NSE Nifty was at 8,175.75, up by 4.95 points or 0.06 per cent.
However, caution prevailed as investors keenly eyed the key US Federal Reserve meeting that begins later in the day. The US Fed is widely expected to raise interest rates in a two-day meeting on December 13-14. Fed policy tightening likely to result in flight of capital from emerging markets to the US.
Buying momentum was witnessed mainly in the auto and oil & gas sector stocks.
The top gainers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 466.30,+2.58%), Wipro Ltd. (Rs. 461.60,+1.63%), Adani Ports & Special Economic Zone Ltd. (Rs. 285.50,+1.46%), Reliance Industries Ltd. (Rs. 1040.00,+1.16%), ITC Ltd. (Rs. 234.95,+1.03%), among others.
Major show spoilers were GAIL (India) Ltd. (Rs. 423.85,-1.14%), Lupin Ltd. (Rs. 1486.50,-1.08%), Tata Steel Ltd. (Rs. 419.45,-1.07%), Hindustan Unilever Ltd. (Rs. 827.00,-0.74%), NTPC Ltd. (Rs. 164.25,-0.73%), among others.
The market breadth, indicating the overall strength of the market, was weak. On BSE, out of the total 2,631 shares traded, 1,226 advanced while 1,265 shares declined and 140 remained unchanged.
On the global front, Asian markets were mixed amid caution ahead of the two-day US Federal Reserve meeting which will decide on interest rate hike.