Indian Shares Defy Weak Global Cues
(RTTNews) - Indian shares ended notably higher on Monday despite weak global cues as a result of the Europe's increasing energy crisis.
A surge in the dollar index and climbing oil prices also failed to dent investor sentiment.
Oil prices climbed over $2 a barrel today ahead of a meeting of OPEC= producers later in the day to decide on supply.
The benchmark S&P/BSE Sensex ended the session up 442.65 points, or 0.75 percent, at 59,245.98 while the broader NSE Nifty index settled up 126.35 points, or 0.72 percent, at 17,665.80.
Sun Pharma, ITC, NTPC, JSW Steel and Hindalco rallied 2-3 percent in the Nifty pack, while Ultratech Cement, Britannia Industries, Bajaj Auto and Nestle India dropped 1-2 percent.
The Indian economy is on a strong wicket, with double-digit growth expected this fiscal, said Finance Minister Nirmala Sitharaman at an event today.
"By the time India celebrates the first centenary of independence, we will have to reset lots of things so that we become a developed nation by then," the FM added.
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