The benchmark indices extended gains for the fourth straight session on Tuesday tracking positive trend seen in Asian markets after strong gains in US and European markets.
At 9:17 am, the S&P BSE Sensex was trading at 31,288, up 66 points, while the broader Nifty50 was ruling at 9,635, up 20 points.
In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices added 0.4% each.
"Due to Monday's price activity, the Nifty has once again managed to regain the 9,600 mark. In fact, it has crossed this hurdle with an ease, which was slightly unexpected for us looking at Friday’s close. However, the stock specific optimism was very much in line with expectations and looking at the momentum, we expect this resistance to shift a bit higher towards 9,630-9,650 zone," said brokerage Angel Broking in a technical note.
PMI manufacturing slows to four-month low in June
Fear of uncertainty over the implementation of the Goods and Services Tax (GST) has cast its shadow on manufacturing activities as growth in the sector fell to a four-month low in June, showed the widely-tracked Nikkei purchasing managers' index (PMI).
The PMI dropped to 50.9 in June from 51.6 the previous month, as a softer rise in new orders resulted in weaker growth in production. A reading above 50 indicates expansion.
Global markets
Asian shares climbed on Tuesday. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.2% while Japan's Nikkei jumped 0.5%, thanks to a weaker yen.
Australian shares advanced 1.4%, while South Korea's KOSPI was little changedOvernight on Wall Street, the S&P 500 index and the Dow Jones Industrial Average posted gains of 0.2% and 0.6%, respectively, led by financials and energy shares. The Nasdaq lost 0.5%, as the rotation away from technology names continued.
US markets are closed on Tuesday.
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