Benchmark indices rose for the second consecutive session on Tuesday as investors continued to buy into beaten-down stocks even though sentiment remained broadly cautious. The BSE Sensex closed 104.37 points up at 25,864.47, while NSE Nifty advanced 30.95 points at 7,837.55.

Market sentiment also got a support from Asian and European markets that rose across the board following a surge on Wall Street overnight as investors clawed back losses that came on the back of last week’s Paris attacks.

In the 50-share index, GAIL, Cairn India, ITC, Vedanta and Ambuja Cements gained between 2.50 per cent and 3.55 per cent. On the other hand, BPCL, Dr Reddy’s Labs, Grasim, Infosys and Bank of Baroda fell between 1.80 per cent and 2.35 per cent.

Still, caution prevailed after disappointing corporate earnings in the July-September quarter, while foreign institutional investors (FIIs) have been net sellers of $506.37 million worth equities so far this month.

“Global backdrop and sell-side figures from FIIs are creating an overhang on the market,” said Gaurang Shah, vice president at Geojit BNP Paribas.

ITC rose over 3 per cent, building on Monday’s gain of 2.57 per cent. The stock lost 2.34 per cent last week.

Shares of Dishman Pharmaceuticals plunged as much as 16.1 per cent on Tuesday after USFDA on Monday asked the pharma mjaor for more data on US firm Clovis Oncology Inc’s lung cancer drug, Rociletinib. Traders thought Dishman was supplying active ingredient for Rociletinib.

Sectorwise, BSE FMCG index gained the most — 2.17 per cent, followed by BSE Metal index (up 1.03 per cent) and BSE Healthcare index (up 0.79 per cent). The BSE Consumer Durables index and BSE IT index declined 0.4 per cent and 0.33 per cent, respectively.

Overall market breadth remained strong on the BSE as 1,396 stocks ended with gains while 1,285 closed with losses.

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Markets through the day

3.30 pm: The BSE Sensex closed 104.37 points up at 25,864.47, while NSE Nifty advanced 30.95 points at 7,837.55.

3.17 pm: Infosys stocks fell 1.75 per cent after the company warned in a conference call on Monday that it was seeing some margin pressure in the third quarter.

2.42 pm: Meanwhile, sugar stocks remained on buyers radar on Tuesday after media reports stated that the government is planning to offer a subsidy of Rs 1,200 crore to farmers. Shares of sugar majors such as Shree Renuka Sugars and Mawana Sugar were up 15.53 per cent and 10 per cent, respectively.

2.16 pm: Shares of HCL Technologies jumped over 2 per cent after the IT major announced that it has signed an Application Development and Maintenance contract with Deutsche Bank. Under the terms of  agreement, HCL will provide digital solutions, systems integration, product implementation and design, build and test new applications in addition to the ongoing application maintenance and support services. The BSE IT index was down 0.17 per cent at 10798.65. Sensex was up 177 points at 25,937.

2.01 pm: Sensex was trading 128.13 points up at 25,888.23. NSE Nifty was trading 27.05 points up at 7,833.65. FMCG stocks were trading higher at 2 per cent.

1.44 pm: Sensex was up 102 points at 25,862. Nifty was up 23.95 points at 7,830.25. Shares of Godfrey Phillips India were trading 16.26 per cent up at Rs 1,321.10.

1.19 pm: After launching a mobile wallet app, ‘SBI Buddy’, for smartphone users, State Bank of India will soon come out with a similar software tool for customers with feature phones. The soon-to-be launched mobile wallet app will be called ‘Batua’. The share price of State Bank of India (SBI) was up 0.22 per cent at Rs 248.50. Sensex was up 58 points at 25,818. Nifty 50 index was up 9.35 points at 7,816.

1.07 pm: After a solid performance in morning trade, China stocks lost momentum and ended Tuesday flat as small caps slumped on profit-taking, reflecting how market sentiment remained fragile. Back home, Sensex was marginally up 2.80 points at 25,762.

12.53 pm: The Indian government would prefer to use buoyant tax receipts to fund extra infrastructure spending than to slash its borrowing target for the current fiscal year, Finance Minister Arun Jaitley told Reuters in an interview on Tuesday.

The sovereign wealth fund of the United Arab Emirates should start investing in India soon, Jaitley told Reuters on a visit to Dubai to drum up interest in Asia’s third-largest economy.

12.43 pm: Shares of DB Realty declined 20 per cent and hit lower circuit at Rs 47.20. The BSE Realty index was down 0.10 per cent at 1292.55. Sensex and Nifty wiped off their initial gains of the day and were trading 26.12 points and 10.90 points down at 25,734 and 7,797

12.38 pm: Videocon Industries is planning to raise $97.20 million (about Rs 641 crore) through five year Foreign Currency Convertible Bonds (FCCBs) due in 2020. The company will make an application to the Singapore Exchange Securities Trading for the Bonds to be listed; and for in-principle approval for the shares to be issued upon conversion of the Bonds to be listed on the National Stock Exchange of India and the BSE. The company has already obtained the approval of its shareholders by a special resolution passed on June 27, 2015 for issue of the Bonds and for issue of the shares upon conversion of the Bonds. Shares of Videocon Industries were trading 0.91 per cent down at Rs 130.60 in the afternoon trade.

12.33 pm: DLF share price climbed as much as 3.3 per cent on Tuesday after India’s largest real estate company on Monday said its wholly-owned subsidiary DLF Home Developers and GIC, Singapore sovereign wealth fund have signed an agreement to enter into a joint venture to invest in two upcoming projects located in Central Delhi. GIC will invest a sum of approximately Rs 1,990 crore in the said projects. DLF was trading 2.55 per cent up at Rs 112.80 on BSE at 12.33 pm.

12.19 pm: Shares of Pipavav Defence were trading 5.6 per cent up at Rs 63.05 on Tuesday after Reliance Infrastructure on Monday informed stock exchanges after market hours that it would begin the Rs 1,263 crore open offer to acquire additional 26 per cent stake in Pipavav Defence and Offshore Engineering Company on December 2.

11.53 am: Sensex was up 42 points at 25,805. In the 30-share index, Hindalco, Vedanta and ITC were up 3.86 per cent, 3.01 per cent and 2.42 per cent, respectively.

11.27 am: Ulfex share price jumped as much as 3.32 per cent on Tuesday after the company informed BSE that the Governor of Virginia invited Uflex to set up business in Virginia and assured Uflex full cooperation and support from their side. Sensex was marginally up 7 points at 25,767. Similarly, Nifty was up 5 points at 7,811.

11.12 am: Shree Renuka Sugars was trading 16.34 per cent up at Rs 15.66. Sensex was up 51 points at 25,811. Nifty was up 13 points at 7,819.

10.57 am: Shares of Dr Reddy’s Lab lost nearly 2 per cent during the session. Scrips of the Hyderabad based pharmaceutical company have been under serious selling pressure during the last one week after the company confirmed receiving a warning letter from the US drug regulator over quality issues at its two API manufacturing plants and a formulation unit in Andhra Pradesh and Telangana. However,the session has been good for pharma scrips as the BSE Healthcare was up by 0.83 per cent.

10.39 am: Reliance Infrastructure informed stock exchanges post market hours on Monday that it will sell 49 per cent equity stake in its integrated power business in Mumbai and adjoining areas for up to Rs 4,000 crore to Canada’s Public Sector Pension Investment Board (PSP Investments). The company also said it would begin the Rs 1,263 crore open offer to acquire additional 26 per cent stake in Pipavav Defence and Offshore Engineering Company on December 2. The share price of Reliance Infra was down 0.95 per cent at Rs 413.10 in the morning trade.

10.20 am: Shares of Apar Industries jumped as much as 4 per cent on Tuesday on fund buying. HDFC Mutual Fund and Fidelity India Fund have bought a combined 16.4 lakh shares representing 4.25 per cent stake in Apar Industries for Rs 71.50 crore through open market. On November 16, 2015, HDFC Mutual Fund Bought 900,000 shares of the company through it’s various schemes at price of Rs 436 per share on NSE, while Fidelity India Fund purchased 735,387 shares of the company at Rs 436 a piece on BSE. Meanwhile, AIL Benefit Trust, the promoter of the company, has sold 16.4 lakh shares via bulk deals.

Apar Industries primarily operates in two segments i.e. transmission & distribution overhead conductors and transformer and specialty oils (TSO). It is the second-largest manufacturer of power conductors in India. The company is also engaged in the manufacture of electrical and telecom cables.

10.15 am: Sensex was up 62.36 points at 25,822.46. Brokers said increased buying by funds tracking a firm trend in other Asian markets amid fading concern about the geopolitical impact of terror attacks in Paris and overnight solid gains on the US markets, buoyed trading sentiments here.

10.13 am: The rupee advanced by 10 paise to 65.90 against the dollar in early trade today on sustained selling of the American currency by exporters and banks.

9.54 am: Apollo Tyres share price was trading 2.47 per cent up at Rs 161.60 on BSE. The company on Monday informed stock exchanges that it has acquired Reifencom GmbH, one of the largest tyre distributors in Germany for Euro 45.6 million. Reifencom GmbH has an online presence in 6 countries — Germany, France, Italy, Austria, Switzerland and Denmark. In addition, it operates 37 stores and service centers across Germany. Sensex was up 71.38 points at 25,831.

9.32 am: Ajanta Pharma’s subsidiary – Ajanta Pharma USA Inc., has launched Montelukast Sodium Oral Granules (4mg), a bioequivalent generic version of SINGULAIR Granules, in the US market. The company offers Montelukast Granules in cartons containing 30 individual sachets. In the early trade, the share price of Ajanta Pharma was up around 2 per cent at Rs 1,359. The BSE Healthcare index was up 0.46 per cent at 16,500. Sensex was up 85.71 points, or 0.33 per cent, at 25,845.81.

9.19 am: Sensex was up 118 points at 25,879. Nifty was up 35.25 points at 7,840. Shares of ICICI Bank will remain in focus on Tuesday as the biggest private sector lender by assets, said on Monday it agreed to sell a 6 per cent stake in its life insurance joint venture in two separate deals to billionaire Azim Premji and Singapore state investor Temasek. ICICI Bank shares were trading 1.61 per cent up at Rs 271.10.

9.15 am: The BSE Sensex and NSE Nifty opened in green on  Tuesday on the back of firm global markets. Sensex opened 137.78 points up at 25,897.88. Nifty opened 42.15 points up at 7848.75.

Asian stocks gained early on Tuesday, taking heart after seeing Wall Street take the attacks in Paris in stride and surge overnight, while expectations for a rate hike by the Federal Reserve in December kept the dollar on a bullish footing. Hang Seng, Nikkei and Shanghai were up over 1.5 per cent.

Wall Street had its strongest session in three weeks on Monday, as investors bet Friday’s attacks in Paris would have little long-term impact on the US economy and corporate earnings. The Dow rose 1.4 per cent and the S&P 500 surged 1.5 per cent.

Back home, the FIIs as per Monday’s data were net sellers in equity segment while there were net buyers in debt segment, according to data released by the NSDL.

In equity segment, the gross buying was of Rs 5564.02 crore against gross sell of Rs 6401.41 crore. Thus, FIIs stood as net sellers of Rs 837.39 crore in equities.

In the debt segment, the gross purchase was of Rs 963.38 crore with gross sales of Rs 788.10 crore. Thus, FIIs stood as net buyers of Rs 175.28 crore in debt.

Sensex closed 149.57 points up at 25,760.10 on Monday, while Nifty settled 44.35 points up at 7,806.60.

(With inputs from agencies)