The Indian equity benchmark indices opened higher on Tuesday following gains in Asian peers but domestic economic woes kept a check on gains. Rise in pharma, metals and auto stocks supported positive momentum in the market.

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The Sensex opened 146.67 points or 0.44 percent higher at 33,450.196, while the Nifty50 index opened at 9,880.85, up 54.70 points or 0.56 percent. At 9:49 am, the Sensex was trading 310 points higher at 33,622 while the Nifty was trading higher by 90 points at 9,916.

Investors sentiment dampened after Moody's Investors Services downgraded India's foreign-currency and local-currency long-term issuer ratings to Baa3 from Baa2. It also downgraded India's local-currency senior unsecured rating to Baa3 from Baa2 and its short-term local-currency rating to P-3 from P-2. The outlook remains negative, Moody's said.

The rating agency said that it will be "very difficult" to reverse some of the current trends over the longer term.

Broader indices traded higher and supported gains, with Nifty Smallcap100 and Nifty Midcap100 indexes up 0.86 percent and 0.59 percent respectively.

Among sectoral indices, the Nifty Pharma index saw most gains, trading 1.01 percent higher followed by Nifty Metals, Nifty Realty, Nifty Auto and Nifty Media.

Selling was witnessed in banking and consumer goods stocks with Nifty Bank trading 0.4 percent lower and Nifty FMCG down 0.21 percent.

Kotak Mahindra Bank, Mahindra & Mahindra, Hindalco Industries, Hero MotoCorp and Tata Motors led the gains among Nifty50 constituents while Coal India, ICICI Bank, ITC, Larsen & Toubro and Britannia Industries were the top index losers.

Shares of Hero MotoCorp gained over 2 percent after it reported total sales at 1.12 lakh units in May including domestic sales of 1.08 lakh units.

​TVS Motor Company shares traded over 1.7 percent higher after its total sales in May were reported at 58,906 units. Two and three-wheeler sales came in at 56,218 and 2,688 units, respectively.

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