Indian shares superior on Tuesday, aided by broad-based beneficial properties throughout sectors, pushed by March-quarter earnings, as buyers await the rate of interest determination by the U.S. Federal Reserve on Wednesday.

The Nifty 50 was up 0.49% to 18,153.10 as of 9:51 a.m. IST, whereas the S&P BSE Sensex gained 0.45%.

Twelve of the 13 main sectoral indexes superior, with the high-weightage financials and knowledge expertise shares rising 0.5% and 1%, respectively.

The benchmark Nifty 50 index rose over 4% in April, its finest month since November 2022. The index, which gained 2.5% final week, moved into overbought territory for the primary time in practically 5 months on Friday.

“Every dip can be a buying opportunity until the Nifty closes below 17,820 levels,” mentioned Deven Mehata, fairness analysis analyst at Choice Broking. “The strong FII buying will help the market sustain above support levels.”

Foreign institutional buyers prolonged their shopping for streak for the third session and added equities price 33.04 billion rupees ($202.34 million) on Friday.

“Expect this momentum (in domestic equities) to continue and Nifty to head towards 18,200 levels,” mentioned Siddhartha Khemkha, head of retail analysis at Motilal Oswal Financial Services Ltd.

Wall Street equities closed barely decrease in a single day after information confirmed U.S. development spending rose greater than anticipated in March, indicating power in financial spending. This set the stage for a charge hike on Wednesday. Asian equities are subdued.

Among particular person shares, Mahindra & Mahindra Financial Services Ltd surged 5% after reporting a year-on-year rise in consolidated revenue within the March quarter.

Rossari Biotech jumped 7% and Satin Creditcare Ltd surged 20%, additionally on the again of strong March quarter outcomes.

On the flip facet, Atul Auto Ltd misplaced practically 10% after posting a 55.1% fall in whole gross sales. ($1 = 81.6950 Indian rupees) (Reporting by Bharath Rajeswaran in Bengaluru; Editing by Janane Venkatraman)