Indian shares slightly higher

Indian shares ended slightly higher on Tuesday, lifted by gains in consumer stocks, while investors kept a cautious stance ahead of the three-day central bank policy meet outcome. According to a Reuters poll of 65 analysts, two-thirds have said the Reserve Bank of India (RBI) would hold its repo rate, a surprise change of stance following the appointment of Shaktikanta Das as the central bank chief in December.
The broader NSE index closed 0.20 percent higher at 10,934.35, while the benchmark BSE index edged up 0.09 percent at 36,616.81.
Both indexes closed higher for a fourth straight session.
Titan Co Ltd extended gains to close 4 percent firmer after it posted upbeat quarterly results on Friday. Financial stocks also climbed, with IndusInd Bank ending 2.47 percent higher.
According to a Reuters poll of 65 analysts, two-thirds have said the Reserve Bank of India (RBI) would hold its repo rate, a surprise change of stance following the appointment of Shaktikanta Das as the central bank chief in December. The central bank will start its three-day policy meet later in the session.
The 'neutral' stance would be in line with Prime Minister Narendra Modi-led Bharatiya Janata Party's aim for a stimulative monetary policy ahead of national elections in May.
The RBI's mandate is to control price pressures, which historically have been difficult to tame in India.
However, analysts feel the possibility of a rejig in the indexes by global index provider MSCI Inc could impact some of the large cap players.
"If MSCI does an index rejig, then the weight of some of the stocks could come down," said Deven Choksey, founder, KR Choksey Investment Managers.
Companies in the American depositary receipts (ADR) and global depositary receipt (GDR) lists such as Tata Motors Ltd and Infosys Ltd could be affected, Choksey added.
Tata Motors was trading 2.1 percent lower, while Infosys slipped 0.9 percent.
Most automobile majors were in the green with Hero MotoCorp Ltd and Mahindra & Mahindra Ltd gaining 1.8 percent and 2.1 percent, respectively.
Consumer giant Hindustan Unilever Ltd was among the biggest boost on the NSE index, rising as much as 1.4 percent, while extending gains to a fourth session.
IT stocks such as Wipro Ltd dropped 0.8 percent, while Tech Mahindra Ltd, which is scheduled to report its quarterly results later in the day, fell nearly 1 percent.
Reliance Communications Ltd dived as much as 16.7 percent, a day after it sought fast-track resolution of its debt through the National Company Law Tribunal (NCLT), the country's court that deals with bankruptcy cases.