Indian shares opened higher on Tuesday led by gains in FMCG and metal stocks amid mixed global cues. At 9:15 am, the benchmark 30-share S&P BSE Sensex opened 0.21 percent, or 121.78 points, higher at 58,418.69, and the broader 50-share NSE Nifty50 index opened at 17,401.55, up 23.75 points, or 0.14 percent.
Broader markets, smallcap and midcap indices also opened in the green. Among sectors, FMCG, media, metals and auto indices gained, while banks, realty and energy sectors are in the red.
On Nifty50, JSW Steel, Tata Steel, Tata Consumer, Asian Paints, and HDFC Life were the top gainers with each scrip gaining over 1 percent. Leading the losses among large caps were Axis Bank, Sun Pharma, Kotak Mahindra Bank, ICICI Bank, and Tata Motors.
Globally, stocks inched higher to a record high for the eighth straight session as investors speculated the US Federal Reserve is likely to delay the start of tapering its asset purchases after the soft US jobs data.
Japanese shares extended bull run on hopes the ruling Liberal Democratic Party will compile additional economic stimulus and easily win an upcoming general election after the country's unpopular Prime Minister Yoshihide Suga said he would quit. Tokyo's Nikkei rallied as much as 1.3 percent, moving past the psychological barrier of 30,000 for the first time since April, also helped by a reshuffle in the Nikkei.
Mainland Chinese shares were little changed in early trade while MSCI's ex-Japan Asian-Pacific index was down 0.1 percent. The world's shares, measured by MSCI's gauge of 50 markets, tacked on 0.1 percent to log its eighth consecutive day of gains to record highs.
In the commodity market, Oil prices fell after Saudi Arabia's sharp cuts to crude contract prices for Asia revived concerns over the demand outlook. US crude futures dropped 0.6 percent to $68.90 per barrel.
—With inputs from Reuters