Indian shares gained on Tuesday supported by bank and pharma stocks. Muted trades in Asian markets and rising crude oil prices limited gains. Investors also remained cautious ahead of the expiry of derivative contracts this week.

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Asian shares were little changed on Tuesday, hovering not far from nine-month peaks hit last week, with concerns China may slow the pace of policy easing curbing the market’s enthusiasm.

Oil prices hovered near 2019 peaks in early trading on Tuesday after Washington abruptly moved to end all Iran sanctions waivers by May, pressuring importers to stop buying from Tehran.

At 9:20 am, the BSE Sensex was trading at 38,813, up 168 points, while the broader NSE Nifty50 was ruling at 11,635, adding 41 points. Broader markets underperformed benchmark indices, with Nifty Midcap and Nifty Smallcap up 0.1 percent each.

Zee, Bharti AIrtel, Bharti Infratel, HDFC Bank, and ICICI Bank were the top gainers on the Nifty, while, GAIL, BPCL, Indiabulls Housing Finance, IOC and PowerGrid fell the most on the index.

All sectoral indices, except Nifty IT, were trading in the green. The Nifty Realty and Nifty Pharma were top performers among sectoral indices. Banking indices also gained in opening trade.

Essel Propack gained 1 percent as Blackstone, one of the world’s leading investment firm, is buying 51 percent from promoters of the company for Rs 1,142 crore.

Globally, MSCI’s broadest index of Asia-Pacific shares outside Japan was almost flat, while Japan’s Nikkei average eased 0.2 percent. Many markets around the world remained shut on Monday after the long Easter weekend.

China stocks fell from a 13-month high on Monday, posting their worst session in nearly four weeks, as comments from top policymaking bodies raised investor fears that Beijing will ease up on stimulative policies after some signs of stabilization in the world’s second-largest economy.

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