Mumbai: Indian financial markets closed with minor gains on Monday as investors traded cautiously ahead of the release of September industrial production and manufacturing output data.
Led by private banks and media stocks, Sensex closed 21.47 points higher at 40,345.08 while the broader Nifty finished 4.80 points up at 11,912.95.
“Market was range-bound as investors stand side-lined from expensive large caps while mid and small caps saw some buying interest based on Q2 results & reasonable valuation,” said Vinod Nair, Head of Research, Geojit Financial Services.
“Investors are keen on CPI inflation data tomorrow (Tuesday), the consensus is showing a further rise to 4.35 percent due to increasing vegetable prices which may impact RBI’s next policy outcome,” Nair added.
Besides, scrips of HDFC Asset Management and Indraprastha Gas Limited on Monday surged to its 52 weeks high on the NSE after being included in the Morgan Stanley Capital International (MSCI) index last week. ICICI Prudential Life and DLF also traded near 52 week high, a technically crucial level.
Other entries to the index, Info Edge gained 2.07 percent but was short of touching its 52 weeks high while Siemens India ended 1.77 percent higher.
The top Nifty gainer was Yes Bank, up by 5.73 percent to Rs 72.90 apiece and Zee Limited which gained 6.16 percent to Rs 305.20 per share. (IANS)