Indian shares ended Monday’s session modestly higher as Middle East tensions eased, and oil prices retreated after rallying around 3 percent on Friday on supply concerns.
Crude prices were down nearly 2 percent in European trade today after the U.S. advised Israel to delay ground invasion in Gaza to allow hostage negotiations.
Israeli troops have entered the Gaza Strip for the first time in nearly two decades, but it’s unclear whether the maneuvers mark the official start of an invasion.
Investors also looked ahead to a busy week of earnings, economic data releases and central bank meetings, including the Federal Reserve meeting.
The benchmark S&P BSE Sensex rose 329.85 points, or 0.52 percent, to 64,112.65, extending gains for a second straight session buoyed by gains in U.S. stock futures and European benchmark indexes.
The broader NSE Nifty index settled 93.65 points, or 0.49 percent, higher at 19,140.90.
Among the top gainers, SBI Life, Reliance Industries, ONGC, UltraTech Cement and BPCL jumped 2-3 percent in the Nifty pack.
Agro-chemical firm UPL slumped 4.6 percent after posting a net loss of Rs. 189 crores in the quarter ended September 2023.
Tata Motors fell 1.9 percent on reports of its new cars catching on fire. Maruti Suzuki India declined 1.5 percent and Eicher Motors dropped 1.3 percent.
Sensex, Nifty End Higher On European Cues
2023-10-30 10:32:10
