Indian shares opened higher on Tuesday, aided by broad-based gains across sectors, as investors digested March quarter earnings ahead of the rate decision by US Federal Reserve on Wednesday.

The Nifty 50 was up 0.47 per cent to 18,151.30, while the S&P BSE Sensex gained 0.47 per cent.

All the 13 major sectoral indexes advanced, with the high-weightage financials and information technology stocks rising over 0.3 per cent each.

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The benchmark Nifty 50 index rose over 4 per cent in April, its best month since November 2022. The index, which gained 2.5 per cent last week, moved into overbought territory for the first time in nearly five months on Friday.

"Domestic equities are continuously gaining strength, supported by health earnings and foreign institutional investors' buying," said Siddhartha Khemkha, head of retail research at Motilal Oswal Financial Services Ltd.

"Expect this momentum to continue and Nifty to head towards 18,200 levels."

Wall Street equities closed slightly lower overnight after data showed US construction spending rose more than expected in March, indicating strength in economic spending. This set the stage for a rate hike on Wednesday. Asian equities are subdued.

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Among individual stocks, Rossari Biotech jumped 7 per cent after reporting a 20.3 per cent year-on-year growth in its consolidated profit in the March quarter.

Satin Creditcare surged 20 per cent after posting a 73 per cent growth in net profit in the March quarter.

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