Mumbai: India's equity indices rose 0.4% on Tuesday, rebounding from a seven-month low the previous day and snapping their four-day losing run, driven by a recovery in metals, auto, and bank stocks."The markets were oversold post the declines in the last six days and today's bounceback is a pullback move," said Ruchit Jain, vice president- technical research at Motilal Oswal Financial Services. The NSE Nifty advanced 0.4% or 90.10 points to close at 23,176. The BSE Sensex gained 0.2% or 169.62 points to close at 76,499.Gains in both indices were capped by weakness in information technology and consumer goods stocks. HCL Technologies tumbled 8.6%, leading IT stocks lower after weaker-than-anticipated December quarter earnings.Analysts warn the pullback in the market may be short-lived as headwinds such as a stronger US dollar and rising US bond yields continue to loom large."Any indications of markets bottoming out is to be led by the heavyweights, which seems unlikely," said Jain of Motilal Oswal. "The strengthening US dollar and rising US bond yields which led to a major correction remain a concern hinting that the pullback could be temporary."Both indices fell over 2% in the last five trading sessions.Upsides in the broader market were stronger with the Midcap 150 index and the Smallcap 250 index gaining 2.2% and 1.6%, respectively, on Tuesday. Out of the 4,073 stocks traded on the BSE, 2,823 advanced, while 1,144 declined. Last week, the mid-cap and small-cap indices slumped 5.59% and 7.23%, respectively.The Nifty Next 50, comprising the 50 most valuable stocks after the top 50 in the Nifty, rebounded 2.6% on Tuesday after plunging 4.3% the previous day resulting in the index falling more than 20% from its highs into the bear territory.Adani Group stocks were among the top gainers in Tuesday's trading with Adani Power jumping 20% - its highest tradable limit of the day. Adani Green surged 13.5% and Adani Enterprises rose 12.3%.If the Nifty holds above 23,000 levels in the next few days, the index can move higher to the 200-day moving average of 23,800 levels, said Vikas Jain, head of research, Reliance Securities."If this level is breached, then it can move lower to 21,800-21,000 levels in the near term," he said.On Tuesday, Nifty Metal Index surged 3.98% and Nifty Auto rose 2%. Bank Nifty advanced 1.43% while Nifty PSU Bank and Private Bank gained 4.2% and 1.14% respectively.The Nifty Realty Index moved 0.8% higher on Tuesday after it slumped 6.5% in the previous trading session.Foreign portfolio investors (FPIs) sold shares worth a net ₹8,132 crore on Tuesday. Their domestic counterparts bought shares worth ₹7,901 crore. So far in January, overseas investors sold ₹31,538 crore.