The key equity indices were trading with modest gains in early trade on buying demand in index pivotal. The Nifty traded above the 17,650 mark. PSU bank, metal and realty scrips advanced while Oil & gas, consumer durables and FMCG shares were under pressure. 

At 09:30 IST, the barometer index, the S&P BSE Sensex, was up 220.2 points or 0.37% to 59,551.10. The Nifty 50 index advanced 91.35 points or 0.52% to 17,695.70. 

In the broader market, the S&P BSE Mid-Cap index rose 0.48% while the S&P BSE Small-Cap index gained 1.07%. 

The market breadth was strong. On the BSE, 1,981 shares rose and 889 shares fell. A total of 164 shares were unchanged. 

Foreign portfolio investors (FPIs) sold shares worth Rs 5,977.86 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 4,252.33 crore in the Indian equity market on 27 January, provisional data showed. 

Stocks in Spotlight: 

NTPC rose 1.47% after the state-run power major's consolidated net profit rose 6.18% to Rs 4,776.61 crore on 33.97% jump in revenue from operations to Rs 44,601.84 crore in Q3 FY23 over Q3 FY22. 

Bajaj Finance rallied 3.56% after the NFBC's consolidated net profit surged 39.89% to Rs 2,973 crore on 26.31% jump in total income to Rs 10,785.95 crore in Q3 FY23 over Q3 FY22. 

Vedanta rose 1.28%. On consolidated basis, the mining company's net profit declined 42.25% to Rs 3,092 crore in Q3 FY23 from Rs 5,354 crore posted in Q3 FY22. Revenue from operations fell marginally to Rs 33,691 crore in Q3 FY23 as against Rs 33,697 crore reported in the corresponding quarter last year. 

Bharat Electronics (BEL) slipped 3.82%. BEL reported 2.64% rise in standalone net profit to Rs 598.77 crore in Q3 FY23 as against Rs 583.37 crore in Q3 FY22. The PSU company's net sales increased 10.6% to Rs 4,046.11 crore for the quarter ended 31 December 2022 compared with Rs 3,656.22 crore in the same quarter a year ago. 

Kajaria Ceramics shed 3.75% after the company's consolidated net profit tumbled 39.09% to Rs 74.32 crore in Q3 FY23 as against Rs 122.02 crore in Q3 FY22. Revenue from Operations was at Rs 1,091.13 crore in the quarter ended 31 December 2022, up 2.14% from Rs 1,068.23 crore reported in the same period last year.