After trading sideways for most part of the day on Monday, the markets have opened in the green. The Sensex is trading up 126 points at 17,524. Nifty is up 37 points at 5,316.
Overnight, the US markets ended mixed with the Dow Jones industrial average losing 0.1% and the Standard & Poor's 500 gaining 0.3%.
Asian shares inched up on Tuesday as manufacturing data around the world highlighted the drag on growth from the protracted euro zone debt crisis.
BSE consumer durables index has added 1% to 6,351. Realty index continues its winning streak and is up 1% at 1,722. Bankex, auto and oil & gas indices are up over half a per cent each.
ICICI Bank is the top gainer and accounts for a 16 point rally on the Sensex. Maruti Suzuki, Bharti Airtel, Dr Reddy's and GAIL are the other key gainers. HDFC Bank and Reliance are up less than a per cent each.
Meanwhile, ITC has slipped 1% to Rs 248. The stock had lost considerable ground Monday on reports that the Uttar Pradesh government plans to increase tax on tobacco products from 12.5% to 50%.
Jindal Steel and Infosys are also trading on a soft note.
Arvind has gained 1.2% at Rs 77 on reports that workers at its Naroda facility in Ahmedabad have called off their over three-week long strike.
Godrej Properties has created a Rs 770 crore development fund with a clutch of global investors to develop residential properties in the country. The stock has surged 5.6% to Rs 552.
GVK Power and Infrastructure is in discussions with a few private equity players in an effort to dilute stake in GVK Airport Holdings. The stock is up 3% at Rs 16.20.
From the mid-cap space, Dewan Housing has gained 5% to Rs 174. Mindtree, Jubilant Foodworks, Punj Lloyd, Infotech Enterprise are some of the other gainers.
However, TVS Motor has slipped 2.6% to Rs 35.50. The company reported a drop 0f 7% in sales for the month June 2012 to of 168,693 units in comparison with 182,456 units recorded in June 2011. Ashok Leyland is down 2.4%. Select banking shares are in red - including State Bank of Mysore, Karnataka Bank and Syndicate Bank.
From the small cap space, Gujarat Apollo has slipped 3.3%, followed by Ruby Mills, Sagar Cements and Vardhman Textiles. On the other handm Relaxo Footwear, Shriram EPC and Shree Ashtavinayak have moved up 5-7% each.
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