Indian shares ended a range-bound session marginally higher on Monday amid lack of cues from global markets on account of Good Friday and Easter holidays.
While strong quarterly updates from auto and realty companies offered some support, a stronger dollar served to keep underlying sentiment cautious.
The dollar surged against rivals after Friday’s U.S. jobs data bolstered expectations of a 25-bps rate hike at the Federal Reserve next monetary policy meeting in May.
Traders also awaited U.S. inflation data for March and the Federal Reserve minutes from the March meeting this week to evaluate the potential for further policy tightening.
The benchmark S&P/BSE Sensex gave up almost all early gains to end the session up 13.54 points, or 0.02 percent, at 59,846.51, while the broader NSE Nifty index settled 24.90 points, or 0.14 percent, higher at 17,624.05.
Tata Motors surged 5.3 percent after reporting an 8 percent year-on-year increase in group global wholesales, including that of Jaguar Land Rover (JLR) in the fourth quarter of FY23.
ONGC followed suit with a 4 percent gain, while Wipro, Grasim and Adani Enterprises all rose over 2 percent.
On the losing side, IndusInd Bank, Tata Consumer Products, Asian Paints, Hindustan Unilever and Bajaj Finance fell 1-2 percent.
Market Analysis
Sensex, Nifty Give Up Early Gains To End Flat
2023-04-10 10:19:07
