Indian stocks witnessed slight gains on Tuesday as investors tread cautiously in anticipation of the U.S.'s inflation and GDP readings and the upcoming expiry of February series derivative contracts.
The primary S&P BSE Sensex recorded an increase of 80 points or 0.1 percent, bringing it to 72,869 in initial trades. The Nifty index of the National Stock Exchange (NSE) also rose by 21 points or 0.1 percent, standing at 22,143.
The IT sector saw a significant surge, with TCS's stocks rallying nearly 2 percent after a rating upgrade from UBS. Other gains were noted in Power Grid Corp, Eicher Motors, Titan Company, and Grasim Industries, all of which had an approximately 1 percent increase.
Canara Bank stocks rose about 1 percent after its board approved a 1:5 stock split. Moreover, Power Mech Projects experienced a 2.2 percent climb after securing a Rs 396.25–crore order from the Southeast Central Railway.
Lemon Tree Hotels too witnessed a 1.3 percent increase as the hotel chain entered into a license agreement for two new hotel properties in Rajasthan and Andhra Pradesh.
