Indian shares eked out modest gains in cautious trade on Monday as investors awaited a slew of central bank meetings and key U.S. economic data due this week for directional cues.
The benchmark S&P BSE Sensex ended the session up 102.93 points, or 0.15 percent, at 69,928.53 despite little support from global markets as investors scaled back expectations for a March rate cut by the Federal Reserve.
The broader NSE Nifty index settled 27.70 points, or 0.13 percent, higher at 20,997.10 after hitting a record high of 21,026.10 in intra-day trading.
The 30-share BSE Sensex edged past the key 70,000 milestone earlier in the day for the first time, buoyed by falling oil prices, return of foreign inflows and sustained inflows from domestic mutual fund investors.
Power Grid Corp, Nestle India, Adani Enterprises, UPL and UltraTech Cement rose 1-3 percent in the Nifty pack while Dr Reddy’s Laboratories slumped 5 percent after receiving three observations from the U.S. FDA for its plant in Telangana state.
Mahindra & Mahindra, Eicher Motors, Cipla and Axis Bank all fell around 1 percent.
Market Analysis
Sensex, Nifty Hit Fresh Record Closing Highs
2023-12-11 10:34:17
