Led by a weak opening in the European markets, Indian markets shed some of its initial gains in the mid-session on Tuesday.
The BSE Sensex was trading at 18,774.43, up 65.45 points or 0.35 per cent. The NSE Nifty was trading at 5,694, up 18 points or 0.32 per cent.
Among BSE sectoral indices, healthcare, capital goods, consumer durabes and FMCG were up, while auto, oil & gas, power and PSU were down.
Among the Sensex stocks, the top five gainers were L&T, Tata Power, Cipla, Dr Reddy's and Sun Pharma. The top five laggards were BHEL, Tata Motors, Hindalco, Bharti Airtel and Bajaj Auto.
European stocks were down as investors awaited a meeting of the region’s finance ministers in Luxembourg. US index futures were little changed, while Asian shares excluding Japan rose.
Asian markets remained positive on Tuesday as speculation that China will add to stimulus measures outweighed concerns after the International Monetary Fund cut its global growth forecast.
The International Monetary Fund has cut its global growth forecast to a 3.3 per cent expansion for 2012, down from its July estimate of 3.5 per cent.
The IMF has also said that China's economic growth is expected to weaken to 7.8 per cent this year, warning of risks to emerging Asia if the euro zone crisis persists.
The euro zone finance ministers had launched their permanent €500-billion bailout fund on Monday but said Spain, was taking steps to overhaul its economy and did not need a bailout for now.
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