Nine of the 13 major sectoral indexes advanced, with high weightage financials rising 0.2%.
Information technology stocks were up 0.3% ahead of the quarterly results of top IT firm Tata Consultancy Services Ltd , due later in the day.
The Nifty 50 has risen over 4.5% in the past seven sessions, its longest winning streak in more than four months. "Expect equity markets to stay muted in the near term despite the surprise pause by the Reserve Bank of India (RBI) and market valuations becoming more reasonable," analysts at Kotak Institutional Equities wrote in a note. "Growth prospects remain weak, inflation faces upside risks and risks of earnings downgrades exist," they added. Investors also await consumer inflation and industrial production data, due to be released after market hours on Wednesday. India's consumer inflation likely eased in March to 5.80%, dipping below the RBI's upper tolerance limit for the first time in 2023, according to a Reuters poll.
Wall Street equities were mostly higher ahead of consumer price index data for March and minutes of the Fed's latest policy meeting due on Wednesday. Asian markets remained subdued. Among individual stocks, Sula Vineyards jumped over 6% after posting 15% year-on-year growth in sales of own brands in the fourth quarter at 1.04 billion rupees. Shares of Titagarh Wagons and Bharat Heavy Electricals rose 3% each, after a consortium of the two companies was awarded an order for Vande Bharat trainsets by the Indian Railways. Time Technoplast rose over 5% on a $6.6 million order win from Indraprastha Gas for the supply of CNG cascades. ($1 = 82.0400 Indian rupees) (Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sonia Cheema, Nivedita Bhattacharjee, and Janane Venkatraman)
