NEW DELHI: Indian equity benchmarks Sensex and Nifty opened with tepid gains but managed to edge higher as the session progressed shrugging off weak macroeconomic numbers.India's retail inflation rose to a three-month high of 2.57 per cent in February from 2.05 per cent last month on the back of a modest spike in food and fuel prices.
Another set of data showed the country's industrial production slipped to 1.7 per cent in January 2019 from 2.4 per cent in December 2018.The Indian rupee came under pressure following a rise in global crude oil prices and weak macroeconomic prints.
The domestic unit opened almost flat at 69.69 against the US dollar.
Oil prices climbed on tightening global supply after a Saudi official said the kingdom plans to cut oil exports in April, while the US government reduced its forecast for domestic crude output growth, Reuters said.
Around 10.00 am, the BSE Sensex was 84 points, or 0.24 per cent, up at 37,625, while the Nifty index was at 11,317, up 16 points or 0.14 per cent.BSE Midcap and Smallcap indices traded flat at that time.
HCL Tech, Hindustan Unilever, HDFC Bank, Bajaj Auto and Sun Pharma were among the top gainers in the Sensex index.On the other hand, ONGC, Vedanta, Coal India, Kotak Mahindra Bank and Tata Motors were among the top losers.Telecom, metal, oil gas and power indices slipped in early trade.
Consumer durables, IT, FMCG and pharma indices were up with mild gains.
Meanwhile, foreign portfolio investors (FPIs) bought Rs 2,477.72 crore worth of domestic stocks on Tuesday, data available with NSE suggested.
DIIs were net sellers to the tune of Rs 990.48 crore, data suggested.