Benchmark indices edged up on Tuesday, with financials and pharma stocks boosting sentiment. That apart, Reliance Industries (RIL) gained nearly 4% in trade to end at Rs 970 levels.
However, gains were capped by a fall in metal stocks that slipped on the back of a fall in aluminium prices on the London Metal Exchange (LME).
The S&P BSE Sensex ended at 34,617, up 166 points while the broader Nifty50 index settled at 10,614, up 30 points.
Aluminium prices continued to fall after Washington gave US customers of Russian producer United Company Rusal more time to close out their business with the company and comply with sanctions. The sanctions on Rusal had driven prices of the metal to their highest since mid-2011 recently on fears that the global market could face shortages.
Hindalco plunged as much as 9.3%, its biggest intraday percentage loss since early November 2016. Vedanta fell as much as 5.5% in intraday to end 2.4% lower, while National Aluminium was down 7%.
GLOBAL MARKETS
In the global markets, Asian stocks steadied after hitting two-week lows on Tuesday as investors paused for breathe following a heavy sell-off in recent sessions and waited to see if the dollar's rally was sustainable.
MSCI's broadest index of Asia-Pacific shares outside Japan tacked on 0.1% following two straight days of declines that took it to its lowest since April 9. Japan's Nikkei added 0.9% as a lower yen supported export-heavy firms. Chinese shares climbed 1.9%, while Hong Kong's Hang Seng index rose 1%.
(with inputs from Reuters)