After a three-day hiatus, Indian shares gained ground on Monday, aided by auto and realty stocks following a strong quarterly trade update. Indices extended gains for the sixth consecutive session as the central bank took a surprise decision to keep the repo rate unchanged to assess the effects of policy rate tightening. Sensex and Nifty closed in the range of 0.1-0.2 per cent at 9.21 am. Except Nifty FMCG, all other sectoral indices were trading in green.
indian stock market Closed on Friday due to Good Friday.
As 10 of 13 major sectoral indices advanced, auto stocks rose more than 1%.
Tata Motors rallied 8% and was the top gainer in the Nifty after multiple brokerages reiterated “buy” rating and maintained positive outlook on the company following its business update for March quarter.
Two big IT companies viz. TCS and Infosys and banking heavyweight, HDFC Bank will announce their numbers this week.
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