BENGALURU, Nov 22 (Reuters) - Indian equity benchmarks edged higher on Tuesday, after declining for three straight sessions, buoyed by gains in top cement producer UltraTech Cement (ULTC.NS).
The benchmark S&P BSE Sensex (.BSESN) rose 0.11% to 61,212.36, while the NSE Nifty 50 index (.NSEI) gained 0.08% to 18,175.10.
UltraTech Cement (ULTC.NS) led gains on the Nifty, rising as much a 2.4% to a near three-week high, while its parent Grasim Industries (GRAS.NS) advanced 2.1%.
Indian markets are likely to be range-bound and not follow global cues ahead of state elections due in December, said AK Prabhakar, Head of Research, IDBI Capital.
Foreign institutional investors sold 15.94 billion Indian rupees ($195.11 million) worth of equities on Monday, while domestic investors bought 12.63 billion rupees ($154.59 million) of shares, per provisional NSE data.