The Indian equity benchmark indices opened higher on Tuesday led by buying across the board following a positive trend in Asian peers.

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At 9:15 am, the Sensex opened 0.50 percent, or 189.26 points, higher at 38,371.34, while the Nifty50 index opened at 11,322.25, up 52.10 points, or 0.46 percent.

Broader markets supported with Nifty Smallcap100 and Nifty Midcap100 indices up 0.69 percent and 0.95 percent, respectively.

Among sectoral indices, the Nifty Metal index saw most gains, trading 1.55 percent higher followed by Nifty Private Bank, Nifty Financial Services, Nifty Auto, Nifty FMCG and Nifty Pharma.

Hindalco Industries, JSW Steel, ICICI Bank, PowerGrid Corporation and Axis Bank were the Nifty50 top gainers, while Shree Cement, Titan Company, Cipla, UPL and Bharti Airtel were the top index losers.

The share price of Bank of Baroda fell over 2 percent after the state-run lender reported Q1FY21 loss at Rs 864.3 crore as against a profit of Rs 709.6 crore, YoY. Net interest income (NII) rose 4.91 percent to Rs 6,816 crore from Rs 6,497 crore, YoY. Asset quality improved marginally. The bank has also reduced overnight MCLR by 15 bps to 7 percent w.e.f. August 12.

Titan Company shares fell over 3 percent after it posted a net loss of Rs 270 crore in Q1FY21 as against a profit of Rs 371 crore in the year-ago period. Revenue declined 62.3 percent to Rs 1,862 crore from Rs 4,939 crore, YoY. The company reported an EBITDA loss of Rs 246 crore in Q1FY21 as against EBITDA gain of Rs 565 crore in Q1FY20.

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