Opening Bell: Sensex, Nifty trade higher amid mixed global cues; Tata Motors up 2%; aviation stocks slip

The Indian equity benchmark indices were trading higher on Tuesday after opening on a mixed note led by gains in IT, metals and pharma stocks amid mixed global cues.

At 9:15 am, the Sensex opened 0.05 percent, or 24.35 points, lower at 45,529.61, while the Nifty50 index opened at 13,373.65, up 45.25 points, or 0.34 percent.

Gains were also witnessed in the broader markets as Nifty Smallcap100 and Nifty Midcap100 indices were up 0.5 percent each.

Among sectoral indices, the Nifty IT, Nifty Metal, Nifty Pharma and Nifty Realty index saw the most gains, trading over 1 percent higher each in the early morning session.

GAIL India, HCL Technologies, Hindalco Industries, Divi's Laboratories and NTPC were the Nifty50 top gainers, while Mahindra & Mahindra, HDFC, HDFC Bank, Asian paints and Titan Company were the top index losers.

Shares of InterGlobe Aviation and SpiceJet plunged over 4 and 9 percent respectively after India suspended UK flights till December 31.

Tata Motors stock price gained 2 percent after the company announced an increase in prices of commercial vehicles starting January, due to a rise in input cost, forex impact.

On the global front, in the US, House passed the $900 billion COVID-19 relief bill, catchall spending bill as tumultuous session wraps up.

Meanwhile, Asian shares slipped on Tuesday, extending a pullback from multi-year highs hit last week on renewed fears a highly infectious new strain of COVID-19 that shut down much of Britain could lead to a slower global economic recovery.

Australian S&P/ASX 200 widened losses to be down 0.67 percent. Japan's Nikkei 225 slipped 0.85 percent.

MSCI's gauge of Asia Pacific stocks outside Japan fell 0.21 percent. China's benchmark CSI300 Index and Hang Seng Index both opened down 0.2 percent.