Sensex, Nifty Snap Two-day Losing Streak
(RTTNews) - Indian shares eked out modest gains on Monday, with a weaker dollar and falling oil prices offering some support.
The rupee traded higher as the U.S. dollar weakened in international markets on expectations that the Federal Reserve will hold pat on interest rates this week.
Oil prices were down nearly 3 percent in European trade amid persistent concerns around the demand outlook.
The benchmark S&P/BSE Sensex ended the session up 99.08 points, or 0.16 percent, at 62,724.71, snapping a two-day losing run.
The broader NSE Nifty index settled 38.10 points, or 0.21 percent, higher at 18,601.50, with potential gains capped by caution ahead of key macroeconomic data, including April industrial output and May consumer inflation, scheduled later in the day.
IT, media and metals stocks topped the gainers list while pharma and private bank shares ended on a subdued note.
Mid-cap and small-cap stocks outperformed, with the corresponding indexes on the BSE closing up half a percent and 0.7 percent, respectively.
Indian Energy Exchange rose about 1 percent after hitting fresh 52-week lows in the past two sessions on reports of market coupling.
Suzlon Energy jumped 10 percent to extend recent gains and reach a fresh 52-week high.
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