BENGALURU: Indices were muted on Monday as investors awaited inflation data, due later in the day, for clues on the central bank’s interest rate trajectory and ahead of a slew of corporate earnings reports.
The NSE Nifty 50 index was up 0.1% to 18,366 as of 0405 GMT, while the S&P BSE sensex, which hit a record closing high on Friday, rose 0.19% to 61909.51.
A Reuters poll showed economists expect retail price inflation slowed to 6.73% in October, due to weaker food price rises and a strong base year, but remained stubbornly above the Reserve Bank of India’s 6% upper limit.
In early trading, Nifty’s IT and metal indexes were among the top-performing sectors, gaining 0.9% and 1.6%, respectively. The pharma and public sector bank indexes dropped nearly 1%.
Life Insurance Corporation of India rose 7.3% on after reporting a surge in quarterly profit.
More than 1,000 companies are scheduled to report results later in the day. These include low-cost carrier SpiceJet , drugmaker Biocon, tyre manufacturer Apollo Tyres as well as conglomerates Godrej Industries and Grasim Industries.
Foreign institutional investors bought a net of 39.58 billion Indian rupees (about $492 million) of equities on Friday, while domestic investors bought 6.16 billion rupees of shares, as per provisional data available with the National Stock Exchange.
The NSE Nifty 50 index was up 0.1% to 18,366 as of 0405 GMT, while the S&P BSE sensex, which hit a record closing high on Friday, rose 0.19% to 61909.51.
A Reuters poll showed economists expect retail price inflation slowed to 6.73% in October, due to weaker food price rises and a strong base year, but remained stubbornly above the Reserve Bank of India’s 6% upper limit.
In early trading, Nifty’s IT and metal indexes were among the top-performing sectors, gaining 0.9% and 1.6%, respectively. The pharma and public sector bank indexes dropped nearly 1%.
Life Insurance Corporation of India rose 7.3% on after reporting a surge in quarterly profit.
More than 1,000 companies are scheduled to report results later in the day. These include low-cost carrier SpiceJet , drugmaker Biocon, tyre manufacturer Apollo Tyres as well as conglomerates Godrej Industries and Grasim Industries.
Foreign institutional investors bought a net of 39.58 billion Indian rupees (about $492 million) of equities on Friday, while domestic investors bought 6.16 billion rupees of shares, as per provisional data available with the National Stock Exchange.
