Indian shares rose about 1 percent on Monday in volatile trading, led by gains in index heavyweights HDFC Bank Ltd and consumer goods giants Hindustan Unilever Ltd and ITC Ltd. The benchmark BSE index ended 1.07 percent higher at 35,354.08, while the broader NSE index climbed 0.97 percent higher to 10,628.60.
Hindustan Unilever jumped nearly 4 percent. ITC advanced 1.8 percent.
"Things are improving on the macro front, but pressure on liquidity persists... Inflation will be in the lower trajectory due to falling oil prices and that is positive for both financial and consumer sectors," said Anita Gandhi, whole-time director, Arihant Capital Markets.
There was also some cautiousness ahead of the release of the gross domestic product data for the September quarter and expiry of futures and options contract later this week.
Private sector lenders such as HDFC Bank and Axis Bank Ltd were among the top boost to the index.
Fast moving consumer goods giants ITC Ltd and Hindustan Unilever Ltd were among the other contributors, with shares up nearly 1 percent each.
IT stocks dragged the markets down, with the Nifty IT index down 1.4 percent. Shares of Tech Mahindra Ltd and Infosys Ltd fell around two percent each. The aviation sector also witnessed some cheer after oil prices fell, with stocks of InterGlobe Aviation Ltd and SpiceJet Ltd up around two percent each, while those of Jet Airways Ltd gained as much as 3.4 percent. Indian markets were shut on Friday for a public holiday.
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