BENGALURU: Indian shares ended higher on Monday to snap six straight sessions of losses, as gains in consumer and bank stocks helped counter a sharp slump in metals.
The NSE Nifty 50 index closed up 0.37% at 15,350.15, while the S&P BSE Sensex was up 0.46% at 51,597.84.
Both indexes had fallen over 5% last week in their biggest weekly drop in two years.
Global stock markets edged up as investors braced for a host of US Federal Reserve speakers this week, where they could underline a commitment to fight inflation whatever rate pain required.
The Nifty metal index ended nearly 4% lower, after plunging 6% to its lowest in more than a year, tracking a global selloff on fears over a potential global recession and demand destruction in top consumer China following fresh coronavirus outbreaks.
Vedanta Ltd tumbled as much as 16% in its worst day in over 20 months, but pared losses to close 12.7% lower.
The miner has also invited expression of interests for its closed copper smelter plant in southern India.
Consumer stocks gained, with the Nifty FMCG index up 1.8%.
Hindustan Unilever, up 3.4%, was the top gainer on the Nifty 50.
The Nifty Finance index ended nearly 1% higher.
Comments
Comments are closed for this article.