Indian Shares Edge Higher In Cautious Trade
(RTTNews) - Indian shares inched higher 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 was capped by weak global cues due to lingering concerns around stretched tech valuations, risks around U.S. tariffs and signs of a softening U.S. jobs market.
The benchmark BSE Sensex was up 253 points, or 0.30 percent, at 84,815 in early trade while the broader NSE Nifty index edged up by 50 points, or 0.2 percent, to 25,960.
Kotak Mahindra Bank rose about 1 percent ahead of a board meeting later this week to consider a stock split.
Lupin gained 1 percent after the U.S. FDA completed inspection of its Nagpur facility with zero observations.
Maruti Suzuki India edged up slightly. The company has announced a recall of 39506 Grand Vitara SUVs manufactured between December 9, 2024, and April 29, 2025, due to potential defects in fuel-level indicators and warning lights.
Tata Motors PV plunged 5 percent after cutting the EBIT margin guidance of is Jaguar Land Rover unit.
Websol Energy System fell 2.4 percent. The company has signed a pact with the Andhra Pradesh Economic Development Board (APEDB) to establish a 4 GW integrated solar cell and module manufacturing plant in Andhra Pradesh.
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