Market LIVE updates: Nifty hovers around 9,800, Sensex sheds some of its gains

The Sensex is up by 56.13 points at 31,314.98, and the Nifty rose by 22.20 points at 9776.55. 

The Nifty was up 0.32 percent at 9,785.35 as of 0609 GMT, while the benchmark Sensex was 0.24 percent higher at 31,334.8.

The wider Nifty50 of the National Stock Exchange (NSE) traded higher by 32.05 points or 0.33 per cent at 9,786.40 points.

The Sensex of the BSE, which opened at 31,393.93 points, traded at 31,328.33 points (at 9.40 a.m.), higher by 69.48 points or 0.22 per cent from Monday`s close at 31,258.85 points.

The Sensex touched a high of 31,484.28 points and a low of 31,307.52 points in the trade so far.Healthy buying was witnessed in oil and gas, consumer durables and IT stocks.

Infosys rebounded 1 percent and Hindalco, Vedanta, Dr Reddy's Labs, IOC, Tata Steel, Tata Motors, Coal India, ICICI Bank, Axis Bank, GAIL, Tech Mahindra, Aurobindo Pharma and Bank of Baroda gained up to 2 percent.

The 30-share BSE Sensex was up 173.60 points at 31,432.45 and the 50-share NSE Nifty rose 56.45 points to 9,810.80.