At 09:30 IST, the barometer index, the S&P BSE Sensex was up 230.79 points or 0.29% to 80,343.51. The Nifty 50 index rose 81.95 points or 0.34% to 24,303.85.

In the broader market, the S&P BSE Mid-Cap index added 0.53% and the S&P BSE Small-Cap index rose 0.64%.

The market breadth was strong. On the BSE, 1,689 shares rose and 720 shares fell. A total of 113 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 9,947.55 crore, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 6,907.97 crore in the Indian equity market on 25 November 2024, provisional data showed.

Stocks in Spotlight:

Ashoka Buildcon added 3.06% after the company has received Rs 1,391 crore projects from National Highways Authority of India (NHAI). The project involves the development of a highway in West Bengal.

Gulf Oil Lubricants India rose 2.23% after the company has signed partnership agreement with Piaggia Vehicles to extend collaboration in delivering co-branded lubricants across Piaggio's commercial vehicle segment.

Acme Solar Holdings fell 3.84% after the company reported 60.4% decline in consolidated net profit to Rs 15.30 crore in Q2 FY25 as compared with Rs 38.63 crore in Q2 FY24. Revenue from operations fell 19.7% YoY to Rs 259.59 crore during the quarter.

Numbers to Track:

The yield on India's 10-year benchmark federal paper was up 1.57% to 6.929 as compared with previous close 6.940.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 84.2450, compared with its close of 84.2950 during the previous trading session.

MCX Gold futures for 5 December 2024 settlement rose 0.24% to Rs 75,488.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.31% to 107.15.

The United States 10-year bond yield added 0.47% to 4.283.

In the commodities market, Brent crude for January 2024 settlement lost 21 cents or 0.29% to $73.22 a barrel.

Global Markets:

Asian stocks traded mixed on Tuesday following U.S. President-elect Donald Trump's announcement of proposed tariffs on China, Mexico, and Canada.

Trump stated on his Truth Social platform that he plans to implement a 10% tariff on goods from China and a 25% tariff on imports from Mexico and Canada. He cited the need to address issues of illegal migration and drug trafficking across U.S. borders.

Key U.S. economic data is due this week, with the Federal Reserve releasing the minutes from its latest FOMC meeting on Tuesday and U.S. GDP data expected on Wednesday.

On Monday, U.S. stock benchmarks hit record highs. The Dow Jones Industrial Average rose 1%, the S&P 500 gained 0.3% to close at 5,987.40, and the NASDAQ Composite advanced 0.27% to 19,054.84. Markets were buoyed by the nomination of Scott Bessent as Treasury Secretary, continued flows into cyclical sectors, and reports of a potential ceasefire between Israel and Lebanon, which drove oil prices lower.

Investors are also awaiting the PCE Price Index, the Federal Reserve's preferred inflation measure, later this week. Trading volumes are expected to remain light due to the Thanksgiving holiday.