Sensex, Nifty End Choppy Session On Flat Note

(RTTNews) - Indian shares ended a choppy session little changed on Monday, with a stronger dollar in overseas markets and concerns over rising oil prices keeping investors nervous.

The dollar hit new multi-month highs against a basket of major world currencies following hawkish comments on interest rates from the Federal Reserve and other central banks.

As oil prices edge towards $100 a barrel, investors remain concerned that the Federal Reserve and other global central banks will have to keep interest rates higher for longer than previously anticipated.

Fresh concerns about China's property market also dented sentiment after Evergrande's debt restructuring hit a roadblock.

The benchmark S&P BSE Sensex swung between gains and losses before ending the session up 14.54 points, or 0.02 percent, at 66,023.69. The broader NSE Nifty index settled 0.30 point higher at 19,674.55.

Bajaj Finance rallied 4.5 percent after reports that it plans to raise funds to the tune of $800 million- $1 billion.

Group firm Bajaj FinServ climbed 2 percent while Coal India, Apollo Hospitals Enterprise and Tata Consumer Products added 2-3 percent.

Sugar stocks rallied after reports that sugar production for the current season will be lower than the previous season.

Balrampur Chini Mills, Dwarikesh Sugar Industries, Uttam Sugar Mills and Dalmia Bharat Sugar and Industries jumped 6-8 percent.

On the losing side, Mahindra & Mahindra, Infosys, Hero MotoCorp, SBI Life and Hindalco fell 1-2 percent.

Delta Corp plunged 17 percent on news the casino operator has received a notice from the government to pay a tax of Rs. 11,140 crores along with interest and penalty for the period July 2017 to March 2022.