Mumbai: Partly shedding the early trading session gains, the key Indian equity indices were trading around half-a-per cent higher during the afternoon.

According the market observers, heavy buying was witnessed in banking, metal and IT stocks.

At 1.10 p.m., the wider 50-scrip Nifty of the National Stock Exchange (NSE) was trading at 10,853.80 points -- up 47.20 points or 0.44 per cent -- from the previous close of 10,806.50 points.

The Sensex of the BSE, which opened at 35,537.85 points, was trading at 35,687.76 points (1.12 p.m.), higher by 131.05 points or 0.37 per cent from the previous day's close at 35,556.71 points.

The Sensex has touched a high of 35,993.53 points and a low of 35,498.83 points in the trade so far.

Also Read: BJP Lead in Karnataka Lifts Equity Indices

The BSE market breadth was tilted towards the bears with 1,328 declines and 1,148 advances.

Expectations of a BJP victory in Karnataka assembly election lifted the key Indian equity indices on Tuesday morning.

However, market observers said broadly subdued Asian indices, and disappointing macro-economic inflation data points released on Monday capped the gains.

So far, the major gainers on the BSE were Tata Steel, Power Grid, Kotak Mahindra Bank, Yes Bank and Asian Paints, while Tata Motors (DVR), Tata Motors, Coal India, ITC and Sun Pharma were the major losers.

On the NSE, the top gainers were Tata Steel, Bajaj Finance and Kotak Mahindra Bank. The major losers were Tata Motors, Coal India and Indiabulls Housing Finance. IANS