The Indian market started with minor gains on Tuesday tracking mixed global cues, a day after benchmark indices saw sharp sell-off across sectors. Asian equities traded largely positive on hopes that the US Federal Reserve will hint at a rate cut this year. The two-day meeting of Federal Reserve begins today, with the decision on the interest rate on Wednesday.

Share Market Live

NSE

The BSE Sensex gained almost 33 points, or 0.08 percent, to 38,993 in the initial tick. The NSE Nifty50 was up just 7 points, or 0.06 percent, trading at 11,679. At 9.41 am, the Nifty traded at 11,673, up just 1.55 points, while Sensex was higher by 12 points, trading at 38,972.

The Nifty MidCap was also in the green, up by 5.50 points, or 0.03 percent, trading at 17,364.50. Bank Nifty edged up 0.11 percent.

As many as 34 sectors advanced led by power, metal, auto, IT and bank counters, while FMCG, telecom, PSU banks, consumer durables were the worst among 9 declining sectors.

Among gainers, IndusInd Bank, Tata Steel, Vedanta, Maruti Suzuki and JSW Steel surged by up to 1.45 percent. Hindustan Unilever, Grasim, State Bank of India, Britannia and Bharti Infratel fell by up to 0.57 percent.

Shares of HDFC Asset Management Company slipped 4 percent after the HDFC group company announced it was going to take some exposure of Essel group companies on its books, to ensure the net asset value of the debt schemes does not take a hit.

Shares of Jet Airways continued downtrend, falling 10 percent in early trade, as the beleaguered aviation company's consortium of lenders decided to move the National Company Law Tribunal under the Insolvency and Bankruptcy code.

The rupee opened stronger

against the greenback on Tuesday, snapping a three-day fall, on the back of sluggish US dollar and weak oil prices.

The home currency has lost 57 paise in the last three sessions amid concerns over Indo-US trade tariff disagreements.

Also, catch all the latest market action and updates in our Live Blog.