Mumbai, Aug 24 (IANS): The Indian stock market traded on a positive note on Tuesday morning tracking a similar trend in the global markets.

The rise in the domestic indices was led by metal and oil and gas stocks.

Around 10.25 a.m., Sensex was trading at 55,696.12, higher by 140.33 points or 0.25 per cent from its previous close of 55,555.79.

It opened at 55,647.11 and has so far touched an intraday high of 55,816.70 and a low of 55,536.84 points.

The Nifty50 on the National Stock Exchange was trading at 16,545.85, higher by 49.40 points or 0.3 per cent from its previous close.

Manish Hathiramani, technical analyst with Deen Dayal Investments said: "The index is once again struggling around the 16,600 level. It seems nervous and hence is retracing every time it gets closer to this zone. If we are successful in crossing it, we should head to 16,800-16,850."

"We have a good support at 16,400 and as long as that holds, the overall momentum is strong and bullish. Traders should utilise these days to accumulate long positions for higher targets," he said.

The top gainers on the Sensex were Tata Steel, Tech Mahindra and Bajaj Finserv, while the major losers were Kotak Mahindra Bank, Asian Paints and HDFC.