Indian shares posted slight gains on Tuesday, as auto makers such as Maruti Suzuki rallied on strong April sales, but broader gains were capped after Ambuja Cement's quarterly results raised concerns about corporate earnings. The broader NSE index ended up 0.1 percent at 9,313.80, while the benchmark BSE index closed 0.01 percent higher at 29,921.18. Both indexes ended lower in the previous two sessions.

Analysts said they expect indexes to trade range-bound as companies continue to report results, though the overall outlook remains hopeful about an economic recovery. A business survey on Tuesday showed that manufacturing activity in the country expanded for a fourth consecutive month in April, helped by stronger growth in new orders although rises in output and employment slowed.

"Markets are in a consolidation mode as the corporate earnings season unfold," said Rakesh Tarway, head of research, Reliance Securities Ltd Indian markets were closed on Monday for a public holiday. Ambuja Cements fell as much as 4.21 percent after its quarterly profit missed estimates, becoming the main drag on the NSE index. Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday. Maruti Suzuki gained as much as 2.53 percent to a record high of 6,690 rupees, while Eicher Motors rose 2.61 percent to a record high of 26,747.90 rupees.

Copyright Reuters, 2017