BENGALURU (Reuters) -India’s shares were higher in morning trading on Tuesday, buoyed by gains in metal stocks on higher global aluminium prices and Nalco’s estimates-topping quarterly profit.
The NSE Nifty 50 was up 0.2% at 22,956.8 points, while the S&P BSE Sensex gained 0.1% to 75,459.6 points, as of 9:56 a.m. IST.
State-run National Aluminium (NALCO) and Hindalco rose 2.4% and 2%, respectively, leading gains among metal stocks, which advanced 0.5%.
NALCO reported fourth-quarter profit above estimates, helped by lower costs of key raw materials, including thermal coal and bauxite.
The metals sub-index was among the top sectoral gainers, also helped by a rise in aluminium and copper prices. [MET/L]
The pharma index gained 0.9%, once again led by Glenmark Pharma and Divi’s Labs, which increased 4.2% and 2.5%, respectively.
(Reporting by Manvi Pant and Dimpal Gulwani in Bengaluru; Editing by Mrigank Dhaniwala and Savio D’Souza)
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