)
Markets opened higher, amid firm global cues, led by index heavyweights Reliance Industries and ITC . However, upside gains were capped as traders remained cautious ahead of the RBI credit policy which is due to be announced later today.
At 9:30AM, the 30-share Sensex was up 53 points at 29,175 and the 50-share Nifty was up 16 points at 8,813.
Foreign institutional investors remain net sellers in equities after they sold equities worth Rs 630 crore on Monday, as per the provisional stock exchange data.
Asian stocks gained on Tuesday as hopes for an agreement on Greece's debt situation lifted risk appetite, while a sharp rebound in oil prices boosted commodity currencies such as the Canadian dollar and Norwegian crown.
US stocks ended sharply higher on Monday after a late rally driven by hopes for a Greek debt deal and as energy shares bounced with oil prices.
BSE Consumer Durables was the top sectoral gainer up 1.5% followed by Oil and Gas, Auto and FMCG indices among others.
Oil shares were trading higher after the sharp rebound in global crude oil prices.
Index heavyweights ITC and Reliance Industries have gained 0.7% each in early trades.
In the banking pack, Bank of Baroda and ICICI Bank witnessed short covering after sharp declines in the previous sessions and were up 1-1.7%. PNB is up 1.4% ahead of its results later today while Axis Bank was up 0.6% and SBI gained 0.8%
Other gainers include, Tata Motors up 1.7%, ONGC up 1%, HUL up 1%, Sesa Sterlite gained 1.5% while L&T gained 0.5%.
In the broader market, the BSE Mid-cap and Small-cap indices were up 0.4-0.5% each.
Market breadth was strong with 969 gainers and 299 losers on the BSE.
