Sensex, Nifty Finish Higher; Financials And FMCG Stocks Outperform
(RTTNews) - Indian shares eked out modest gains on Monday, tracking mixed cues from global markets.
A cautious undertone prevailed as investors digested weak U.S. jobs data and looked ahead to key macro data due later in the week for directional cues.
Domestic industrial production and retail inflation data due later in the week might provide critical insights into the health of the Indian economy and could play a significant role in the Reserve Bank of India's (RBI) future monetary policy decisions.
Globally, the focus was on upcoming U.S. inflation data as well as the ECB and Fed rate decisions.
The benchmark 30-share BSE Sensex ended the session up 375.61 points, or 0.46 percent, at 81,559.54 while the broader NSE Nifty index rose by 84.25 points, or 0.34 percent, to 24,936.40.
Financials and FMCG stocks paced the gainers, with Britannia Industries, ITC, ICICI Bank, Shriram Finance and Hindustan Unilever climbing 2-3 percent.
Among the prominent decliners, ONGC tumbled nearly 3 percent after a deep weekly loss pushed oil prices to their lowest close since 2021 on Friday.
Hindalco, Tata Steel, BPCL and Tech Mahindra dropped 1-2 percent.
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