India’s BSE index gains 0.26 percent after earlier breaching the psychologically important 20,000 mark for the first time since Jan. 2011, while NSE index is up 0.3 percent.  * Indian share markets continue to be supported a day after the government delayed the implementation of controversial rules on tax avoidance and lower-than-expected inflation bolstered the case for a cut in interest rates.

ITC up 2.3 percent, gaining for a second day on value buying after falling 10.6 percent since index compiler FTSE cut its free-float weighting on the stock in mid-December, as of Friday’s close, dealers say. * Tata Consultancy Services Ltd, India’s largest software services exporter, gains 1.9 percent after posting better-than-expected earnings and prompting a raft of analyst upgrades.

GLOBAL MARKETS ROUNDUP

With large deficits providing fiscal support through social transfers and subsidies, the economy has become segmented, characterized by weak exports and investment on one hand but relatively strong imports and consumption on the other.

The dollar languished at 11-month lows against the euro on Tuesday after comments from the head of the Federal Reserve suggested the central bank was in no hurry to withdraw monetary stimulus from the world’s biggest economy.     * Brent crude oil rose by more than 1 percent toward $112 a barrel on Monday, boosted by a weak U.S. dollar, strength in
gasoline and diesel markets, and as investors weighed a statement from Saudi Arabia disputing claims it has altered its output policy.

U.S. government debt prices inched higher on Monday with benchmark yields near their lowest levels in about 1-1/2 weeks on the Federal Reserve’s purchase of long-dated bonds and safe-haven bids due to weaker stock prices.

 LOCAL MARKETS PREVIOUS CLOSE

•      BSE index 19,906.41 (+1.23)
•      NSE index 6,024.05 (+1.22 pct)
•      Rupee 54.4950/5050 per dollar (54.7550/7650)
•      10-year bond yield 7.80 pct (7.87 pct)
•      5-year OIS rate 7.12 pct (7.18 pct)
•      1-year OIS rate 7.48 pct (7.53 pct)
•      Call money 8.00/8.10 pct (7.90/7.95 pct)