Indian Shares End Higher Despite Weak Global Cues

(RTTNews) - Indian shares eked out modest gains on Monday, with underlying sentiment supported by a resounding victory for the BJP-led NDA in the Bihar elections and optimism surrounding a potential India-U.S. trade deal.

The upside, however, was capped by mixed global cues due to lingering concerns around stretched tech valuations, risks around U.S. tariffs and signs of a softening U.S. jobs market.

Global sentiment was fragile as investors scaled back expectations of a December rate cut from the U.S. Federal Reserve and looked ahead to earnings from Nvidia for direction.

The U.S. Commerce Department's Bureau of Economic Analysis said on Friday it was working to update its schedule of economic data releases affected by the recently ended government shutdown.

The September jobs report is due on Thursday, but more up-to-date labor and price figures are not due until next month.

The benchmark BSE Sensex ended the session up 388.17 points, or 0.46 percent, at 84,950.95.

The broader NSE Nifty index rose 103.40 points, or 0.40 percent, to 26,013.45 while the BSE mid-cap and small-cap indexes climbed 0.7 percent and 0.6 percent, respectively.

The market breadth was weak on the BSE, with 2,200 shares falling while 2,091 shares rose and 206 shares closed unchanged.

Among the top gainers, Titan Company, Tech Mahindra, Mahindra & Mahindra, Kotak Mahindra Bank, Maruti Suzuki India and Eternal rallied 1-2 percent.

Globally, Asian markets ended mixed as a spat over Taiwan threatened ties between China and Japan.

European stocks were mixed in early trade due to concerns about an artificial intelligence bubble and global growth.

Gold was little changed, after having fallen more than 2 percent in the previous sessions on dwindling rate-cut bets.

Oil prices traded lower in European trade after a Russian export terminal resumed operations.