Key indices pared gains in morning trade. At 10:17 IST, the barometer index, the S&P BSE Sensex, was up 30.97 points or 0.08% at 36,683.03. The Nifty 50 index was up 17.50 points or 0.16% at 11,084.95.
Among secondary barometers, the BSE Mid-Cap index was up 0.70%. The BSE Small-Cap index was up 0.54%.
The market breadth, indicating the overall health of the market, was strong. On BSE, 1310 shares rose and 672 shares fell. A total of 105 shares were unchanged.
Metal shares were in demand. National Aluminium Company (up 2.81%), Jindal Steel & Power (up 2.33%), Tata Steel (up 1.47%), Hindalco Industries (up 1.46%), Steel Authority of India (up 1.20%), NMDC (up 1.19%), Hindustan Copper (up 0.90%), JSW Steel (up 0.76%), Vedanta (up 0.26%) and Hindustan Zinc (up 0.16%), edged higher.
FMCG shares were mixed. GlaxoSmithKline Consumer Healthcare (up 2.42%), Marico (up 1.67%), Bajaj Corp (up 1.03%), Jyothy Laboratories (up 0.96%), Colgate Palmolive (India) (up 0.91%) and Godrej Consumer Products (up 0.47%), edged higher. Procter & Gamble Hygiene & Health Care (down 0.31%), Tata Global Beverages (down 0.81%), Dabur India (down 0.98%), Hindustan Unilever (down 1.27%), Britannia Industries (down 1.44%) and Nestle India (down 1.57%), edged lower.
Overseas, most Asian shares rose ahead of a widely expected rate hike by the US Federal Reserve and as international oil prices rose to four-year highs. South Korean markets are closed for a public holiday.
US stocks finished mostly lower Tuesday amid subdued activity as investors limited big bets ahead of the Federal Reserve's monetary-policy decision on Wednesday. Concerns about continuing trade tensions lingered, further capping the market's upside momentum.
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On Tuesday, US President Donald Trump reiterated his administration's stance on trade, telling the United Nations General Assembly that his country would "no longer tolerate abuse" on that front.
Trump's statement came after US Trade Representative Robert Lighthizer said his country was ready to move ahead on a trade deal with Mexico even if it excluded Canada, as negotiations with Ontario remained at an impasse. "We're not going to say 'no deal because of Canada.' That doesn't make any sense at all," he told the US Chamber of Commerce.
In the latest US economic data, home prices rose 0.2% in July, the slowest pace of growth since last summer. Separately, the US consumer confidence index rose to 138.4 in September from 134.7.
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