Mumbai: Indian stocks advanced, with the benchmark gauge rebounding from its biggest loss in a month, as lenders and metal producers climbed.

ICICI Bank Ltd, the country’s biggest private lender, climbed to a two-week high. The stock was the best performer on the S&P BSE Bankex, which jumped 1.4%. Tata Steel Ltd rallied to a four-month high, while Oil and Natural Gas Corp. Ltd (ONGC), the largest state-owned explorer, increased to its highest price in nearly three weeks.

Indian key stock indices failed to hold the US Fed cheer on Friday and ended a percentage point lower. The Union government's mid-year economic review, which revised the gross domestic product (GDP) growth estimate from the earlier 8-8.1 per cent to 7-7.5 per cent weakened the sentiment.

The BSE's benchmark 30-share Sensex lost 284 points to close at 25,519.22. The National Stock Exchange's Nifty 50 closed at 7,761, down 82 points. Stocks in information technology (IT), pharmaceuticals, banks and metals dragged down the indices. The market breadth was weak, as out of the 50 shares in the Nifty, 40 closed in the red.

Indian markets are expected to see a cautious opening today mirroring weakness in the Asian peers. The early indicator SGX Nifty is trading 0.6% lower.

Despite a strong rally on Thursday, a slump in the US stocks overnight on concerns of a further fall in the global crude prices could weigh on the sentiment.

After a gap up opening, markets have erased their early gains on account of profit booking. The selling pressure on the index heavyweights such as Tata Motors, Axis Bank, ITC has dragged the markets lower.

At 11:30 am, the S&P BSE Sensex was down by 5 points at 25,488 and the Nifty50 gained 4 points at 7,754.

The BSE Sensex and NSE Nifty are likely to open on a cautious note on Tuesday tracking mixed Asian markets ahead of US Federal Reserve meet.

Asian markets were mixed on Tuesday, as investors were reluctant to make any big moves amid volatile crude oil and before a widely anticipated US interest rate increase by the Federal Reserve later this week. Hang Seng and Shanghai were up 0.46 per cent and 0.14 per cent, while Nikkei were down 0.73 per cent in the morning trade.

Shares of Larsen and Toubro (L&T) have slipped almost 2% to Rs 1,298, also its 52-week on the National Stock Exchange (NSE) in intra-day deals today.

Meanwhile, the company has secured orders worth Rs 1,960 crore across business segments.

Donear Industries has locked in upper circuit for the second straight day, up 20% at Rs 24, also its 52-week high on the BSE.

The counter has seen huge trading volumes with a combined 3.24 million shares changed hands till 10:58 AM as compared to sub one million shares that were traded daily in past two weeks. There were pending buy orders for 1.5 million shares on the BSE and NSE.

Indian regulators have launched an unprecedented drive to boost corporate transparency, bombarding firms with disclosure demands, but clumsy execution has created suspicions of a box-ticking exercise that may not entirely achieve its aim.

Poor disclosure among India-listed firms is a turnoff for foreign investors, a weakness Asia's third-largest economy can ill afford as competition for overseas capital heats up among emerging markets in expectation of higher U.S. interest rates.

Benchmark indices continue to witness negative trend weighed down by index heavyweight shares like ITC, Tata Motors and HDFC.

Further, the Nikkei/Markit Services Purchasing Managers' Index fell sharply to 50.1 in November from October's eight-month high of 53.2.

Bharti Airtel has dipped nearly 4% to Rs 322, extending its previous day’s 2% decline on the BSE, after the company announced that it plans to invest Rs 60,000 crore over the next three years to expand its network.

This investment of Rs 60, 000 crore is over and above the Rs 1, 60,000 crore Airtel has already invested in its active and passive network, spectrum, fiber, submarine cables and systems till date, Bharti Airtel said in a release.

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