BENGALURU, May 28 Reuters Indian equity benchmarks advanced on Tuesday, helped by gains in metal stocks on higher global aluminium prices and an earningsled rally in pharma shares.
The NSE Nifty 50 was up 0.2 at 22,985.75 points, while the SP BSE Sensex gained 0.1 to 75,475.32 points, as of 1110 a.m. IST.
Ten out of the 13 major sectoral indexes were trading in green.
Staterun National Aluminium NALCO and Hindalco rose 2 and 1.6, respectively, leading gains among metal stocks, which advanced 0.6.
The metals subindex was among the top sectoral gainers, helped by a rise in aluminium and copper prices.
NALCO reported fourthquarter profit above estimates, helped by lower costs of key raw materials, including thermal coal and bauxite.
Meanwhile, volatility in shares continued to hover near twoyear highs due to nervousness around the outcome of the general elections. While Prime Minister Narendra Modi39;s Bharatiya Janata Party is expected to return to power, there is some uncertainty over the margin of victory.
India39;s weekslong election ends on Saturday and the votes will be counted on June 4.
On the earnings front most of the results that have come in are either betterthanexpected results like NALCO39;s or in line with expectations. Hence, the outcome of general elections on June 4 would be key to market move this week alongside Tata Steel earnings expected tomorrow, Anita Gandhi, founder and head of institution at Arihant Capital Markets, said.
Pharma company…