- Buying in information technology and fast-moving consumer goods stocks pushed the markets higher, however the upside was limited due to selling in energy and state-run banking stocks such as Punjab National Bank (PNB).
- At 10:02 am, the S&P BSE Sensex traded 120.05 points, or 0.31 per cent, higher at 38,820.58 and the NSE Nifty was at 11,627.70, up 23.20 points from the previous close.
- On the 50-scrip index, top gainers at the time were HCL Tech, Wipro, Tata Motors, Zee Entertainment and ICICI Bank, trading between 1.07 per cent and 2.76 per cent higher.
- Market breadth, however, favoured declines, with 949 stocks trading lower on the National Stock Exchange (NSE), as against 639 moving higher.
- Caution prevailed as investors awaited key macroeconomic data and the start of the earnings season due later this week, say analysts.
- The government is slated to release macroeconomic data such as consumer inflation and industrial production on Friday.
- Friday will also mark the release of earnings by IT majors Tata Consultancy Services (TCS) and Infosys.
- On the other hand, Indiabulls Housing Finance, Asian Paints, Bharti Airtel, GAIL and Adani Ports - trading between 0.88 per cent and 2.78 per cent lower - were the top laggards on the Nifty.
- Investors in other Asian markets braced for key events later in the week, including the start of the US earnings season and a crucial Brexit summit, while broader concerns about slowing global growth checked sentiment.
- MSCI's broadest index of Asia-Pacific shares outside Japan was basically flat after brushing its highest since late August last year during the previous session. Japan's Nikkei dipped 0.15 per cent.
(With inputs from Reuters)
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