Indian shares were unchanged on Monday weighed down by record high world prices of crude oil, the country's biggest import. The 30-issue Mumbai Stock Exchange closed down 0.01 percent at 6,604.42 points, but software and cement shares rose and traders said they would watch oil prices closely. "There was a correction last fortnight and then a re-bound with value-buying in the last two-three sessions, so the market undercurrent is now steady, but oil prices are a concern," said K.K. Mittal, fund manager with Escorts Mutual Fund.
Shares of Wipro Ltd, India's No 3 software service exporter, rose 1.1 percent to 680.65 rupees and shares of mid-sized MphasiS BFL ended 1.85 percent higher.
India's biggest utility vehicle maker Mahindra & Mahindra Ltd saw its shares close 2.86 percent lower while those of Tata Motors Ltd, the top bus and truck maker, fell 2.3 percent, hurt by concern about fuel and steel prices.
Indian federal bonds also slipped as traders fretted over record high oil prices as well as fresh supplies worth 80 billion rupees on Tuesday, but dealers said volumes were thin as dealers eased into the new financial year that started on April 1.
The yield on the benchmark 10-year bond ended at 6.7498 percent, up from 6.7368 percent in the morning. The yield had risen 6 basis points last week to 6.7372 percent.
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