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Indian equity markets maintained their upward momentum in the noon session following gains in metal, realty and capital goods stocks. Healthy buying was observed in blue-chip stocks like HCL Tech, Tata Steel and ICICI Bank. Besides, broader indices were also trading in green, supporting their larger peers. Traders were energized as foreign Institutional Investors were net buyers in the capital market as they purchased shares worth Rs 1,344.63 crore on Tuesday, exchange data showed. Traders shrugged off report where India's services industry slumped in September to a six-month low, led by a substantial easing in demand amid high inflation. The S&P Global India services Purchasing Managers' Index fell to 54.3 in September from August's 57.2. On the global front, Asian markets were trading mostly higher amid growing expectations of an economic rebound in China.

The BSE Sensex is currently trading at 58437.92, up by 372.45 points or 0.64% after trading in a range of 58290.47 and 58578.76. There were 20 stocks advancing against 10 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index rose 1.24%, while Small cap index was up by 1.46%.

The top gaining sectoral indices on the BSE were Metal up by 3.47%, Realty up by 2.33%, Capital Goods up by 2.09%, Industrials up by 1.92% and Power was up by 1.87%, while there were no losing sectoral indices on the BSE.

The top gainers on the Sensex were HCL Tech. up by 2.15%, Tata Steel up by 2.08%, ICICI Bank up by 2.07%, Larsen & Toubro up by 2.02% and Infosys was up by 1.86%. On the flip side, Hindustan Unilever down by 1.81%, Bajaj Finance down by 1.59%, Bharti Airtel down by 1.55%, Indusind Bank down by 0.78% and Dr. Reddy's Lab was down by 0.55% were the top losers.

Meanwhile, Reserve Bank of India (RBI) is planning to extensively use advanced analytics, artificial intelligence (AI) and machine learning (ML) to analyse its huge database and improve regulatory supervision on banks and NBFCs. For this purpose, the central bank is also looking to hire external experts. While the RBI is already using AI and ML in supervisory processes, it now intends to upscale it to ensure that the benefits of advanced analytics can accrue to the Department of Supervision in the central bank.

The department has been developing and using linear and a few machine-learnt models for supervisory examinations. The supervisory jurisdiction of the RBI extends over banks, urban cooperative banks (UCB), NBFCs, payment banks, small finance banks, local area banks, credit information companies and select all India financial institutions. It undertakes continuous supervision of such entities with the help of on-site inspections and off-site monitoring. The central bank has floated an expression of interest (EoI) for engaging consultants in the use of Advanced Analytics, Artificial Intelligence and Machine Learning for generating supervisory inputs.

Taking note of the global supervisory applications of AI & ML applications, this Project has been conceived for use of Advance Analytics and AI/ML to expand analysis of huge data repository with RBI and externally, through the engagement of external experts, which is expected to greatly enhance the effectiveness and sharpness of supervision. Among other things, the selected consultant will be required to explore and profile data with a supervisory focus. The objective is to enhance the data-driven surveillance capabilities of the Reserve Bank. Across the world, regulatory and supervisory authorities are using machine learning techniques (commonly referred to as 'Supertech' and 'regtech') for assisting supervisory and regulatory activities. Most of these techniques are still exploratory, however, they are rapidly gaining popularity and scale.

The CNX Nifty is currently trading at 17391.65, up by 117.35 points or 0.68% after trading in a range of 17340.65 and 17428.80. There were 34 stocks advancing against 16 stocks declining on the index.

The top gainers on Nifty were JSW Steel up by 4.19%, Coal India up by 4.08%, Hindalco up by 3.59%, Tata Steel up by 2.27% and ICICI Bank was up by 2.07%. On the flip side, Hindustan Unilever down by 1.86%, Bajaj Finance down by 1.57%, Bharti Airtel down by 1.44%, Cipla down by 1.28% and Britannia Inds was down by 0.99% were the top losers.

Asian markets were trading mostly higher; Taiwan Weighted strengthened 90.62 points or 0.66% to 13,892.05, KOSPI rose 22.64 points or 1.02% to 2,237.86, Straits Times advanced 7.68 points or 0.24% to 3,160.91, Jakarta Composite soared 3.91 points or 0.06% to 7,079.30 and Nikkei 225 was up by 190.77 points or 0.7% to 27,311.30. On the flip side, Hang Seng was down by 59.46 points or 0.33% to 18,028.51.

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