India's benchmark stock indices traded off record high through midday session on Tuesday as energy and healthcare stocks came under pressure.
During opening bell, the both the indices hit fresh all-time high for the fourth day in a row supported by gains in public sector banks, media and non-banking financial companies stocks. The S&P BSE Sensex had jumped 0.59% to record high of 65,586.60 points, while the NSE Nifty 50 rose 0.47% to 19,413.50 points.
The global rally paused amid lackluster trading as U.S. futures fluctuated and Japanese equities weighed down a gauge of Asia stocks. Japan's Topix fell about 0.6%, while Hong Kong's Hang Seng Index rose by around the same amount and shares in Shanghai fluctuated.
The Australian dollar declined and equities rose after the central bank kept interest rates unchanged. The yield on the nation's policy-sensitive three-year bond reversed an earlier gain.
On Monday, S&P 500 advanced 0.1% in a shortened session that ended at lunchtime. The Nasdaq 100 added 0.2% on a day that brought data showing a slowdown in manufacturing.
As of 12.51 pm, the S&P BSE Sensex rose 316.10 points or 0.48% to 65,521.15, while the NSE Nifty 50 gained 67.40 points or 0.35% up to 19,389.95.
Bajaj Finance Ltd., HDFC Bank Ltd., Bajaj Finserv Ltd., Housing Development Finance Corp. and State Bank of India were contributing positively to the change in the Nifty.
Reliance Industries Ltd., Bharti Airtel Ltd., Eicher Motors Ltd., Axis Bank Ltd. and ITC Ltd. weighed on the index.
The broader market indices were trading higher. The S&P BSE MidCap was up 0.19%, while the S&P BSE SmallCap was 0.41% higher.
Thirteen out of the 20 sectors compiled by the BSE advanced, with the S&P Financial Services gaining the most. Seven sectors declined.
The market breadth was skewed in the favour of the buyers. About 1,727 stocks rose, 1,621 declined, and 138 remained unchanged on the BSE.
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