Indian equity indices ended a volatile session with decent gains on Tuesday. The Nifty closed above the 18,800 level after hitting the day's low of 18,660.65 in mid-morning trade.

The barometer index, the S&P BSE Sensex advanced 159.40 points or 0.25% at 63,327.70. The Nifty 50 index gained 61.25 points or 0.33% at 18,816.70.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 0.47% while the S&P BSE Small-Cap index rose 0.40%. The market breadth was positive.

Among the sectoral indices on the NSE, the Nifty IT index (up 0.78%), the Nifty Auto index (up 0.74%) and the Nifty Metal index (up 0.70%) outperformed the Nifty50 index. Meanwhile, the Nifty Media index (up 1.22%), the Nifty Healthcare index (down 0.26%) and the Nifty Pharma index (down 0.19%) underperformed the Nifty50 index.

Numbers to Watch:

The yield on India's 10-year benchmark federal paper rose 0.14% to 7.063 from previous close of 7.053.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 82.1350, compared with its close of 81.9400 during the previous trading session.

MCX Gold futures for 4 August 2023 settlement gained 0.22% to Rs 59,287.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.08% to 102.44

The United States 10-year bond yield advanced 0.21% to 3.780.

In the commodities market, Brent crude for August 2023 settlement added 16 cents or 0.21% to $76.77 a barrel.

Global Markets:

Most of the shares in Europe declined while Asian stocks ended mixed on Tuesday .

Investors will be monitoring the U.K. this week, with inflation data due on Wednesday and a monetary policy announcement on Thursday.

The People's Bank of China cut key policy rate on Tuesday for the first time in 10 months. The Chinese central bank slashed its one-year and five-year loan prime rate by 10 basis points each to 3.55% and 4.20% respectively.

U.S. markets were closed on Monday for the Juneteenth holiday.

US President Joe Biden hailed what he said was progress in restoring US-China ties after Secretary of State Antony Blinken wrapped up two days of meetings in Beijing, including talks with Chinese President Xi Jinping. President Xi Jinping pronounced the progress very good.

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