Sensex, Nifty End Modestly Higher
(RTTNews) - Indian shares ended modestly higher on Monday after a range-bound session.
While firm global cues helped underpin sentient, rallying oil prices and a stronger dollar in international markets prompted traders to exercise caution at higher levels.
With the U.S. debt ceiling issue resolved, investors looked ahead to cues from the RBI and Federal Reserve meetings.
The benchmark S&P BSE Sensex ended the session up 240.36 points, or 0.38 percent, at 62,787.47, extending gains for a second consecutive session.
The broader NSE Nifty index settled 59.75 points, or 0.32 percent higher, at 18,593.85.
Grasim, Larsen & Toubro, Tata Motors, Axis Bank and Mahindra & Mahindra climbed 2-4 percent in the Nifty pack, while Tech Mahindra, Asian Paints and Divis Laboratories all fell over 1 percent.
The rupee traded lower and was on track for its biggest single-day fall since mid-March as the dollar surged after the release of strong payrolls report released on Friday.
The signing of a legislation by U.S. President Joe Biden to lift the nation's debt ceiling also buoyed the dollar.
Gold edged lower on dollar strength while oil prices were up nearly 2 percent in European trade after Saudi Arabia - the world's largest crude exporter - pledged to cut its production by another 1m bbl/day in July.
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