Indian shares rose on Tuesday in line with gains in broader Asia supported by strong global cues, as investors turned their focus to the Reserve Bank of India (RBI) meeting beginning later in the day.
The central bank is expected to cut its benchmark lending rate for a second consecutive time when its meeting ends on Thursday, shortly before the first phase of the national election, a Reuters poll found.
Domestic shares also tracked broader Asian markets which continued to rally on the back of positive US and Chinese manufacturing data.
MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.2 per cent, reports Reuters.
Indian shares rose for a fourth straight session today while the broader NSE Nifty was up 0.19 per cent at 11,691.55 as of 0623 GMT and the benchmark BSE Sensex was 0.25 per cent higher at 38,968.97.
Eicher Motors Ltd gained 3.2 per cent and was among the top percentage gainers on the NSE index.
Power companies Power Grid Corp of India and Adani Power Ltd rose over 2.5 per cent each.
Bharat Road Network Ltd hit its upper circuit limit of 20 per cent after winning an arbitration award aganst NHAI.
Index heavyweight Reliance Industries Ltd was among the top drags, falling 0.7 per cent after gaining about 3.2 per cent in the previous three sessions.
Zee Entertainment Enterprises Ltd fell as much as 4.1 per cent to its lowest since February 14.
Software engineering firm Cyient Ltd slumped 10 per cent to its biggest intraday loss in over two years after it said it expects a decline in design led manufacturing revenue during fourth quarter of fiscal 2019.
