Indian shares rebounded on Tuesday to end higher, led by financials such as Housing Development Finance Corp, but broader sentiment was cautious amid lingering concerns about the escalating North Korea crisis. The broader NSE index ended 0.4 percent higher at 9,952.20, while the benchmark BSE index closed 0.34 percent higher at 31,809.55. Financials accounted for most of the gains. The Nifty Bank index rose as much as 0.6 percent after ending 0.8 percent lower in the previous session, but analysts warned sentiment was cautious overall.
"Markets are nervous and that is why they are not scaling new highs. There are a lot of inherent strengths whereby levels are not broken and markets continue to be in rangebound mode," said Vaishali Parekh, a research analyst with Prabhudas Lilladher Pvt Ltd.
Among the top gainers on the Nifty 50, Tech Mahindra Ltd, Asian Paints Ltd and Ambuja Cements Ltd climbed between 1.7 percent and 3 percent, recovering well from Monday's losses. Hotel Leelaventure Ltd rose as much as 8.1 percent to its highest in three months after the Economic Times newspaper reported that US private equity fund Marigold Capital & Investments would buy the company's hotel in Chennai, citing unnamed sources.
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