Sensex, Nifty End Modestly Higher
(RTTNews) - Indian shares moved in a narrow range on Monday before finishing closing modestly higher, led by IT, FMCG and banking stocks.
Overall gains were capped due to weak global cues as investors looked ahead to the release of the U.S. jobs report due later in the week for additional clues on the Fed's rate cut trajectory.
Money markets currently expect the Fed to cut rates by 25 basis points (bps) in September, with odds of a 50-bps cut diminishing further after last week's data.
The benchmark 30-share BSE Sensex ended the session up 194.07 points, or 0.24 percent, at 82,559.84, after having hit a record high of 82,725.28 during the intra-day trade.
Similarly, the broader NSE Nifty index closed up by 42.80 points, or 0.17 percent, at 25,278.70 after hitting a new high of 25,333.65 in the morning.
SBI Life, Hero MotoCorp, HCL Technologies, Bajaj Finance and Bajaj FinServ jumped 2-3 percent in the Nifty pack while Hindalco led losses to close 2.6 percent lower.
ONGC, NTPC, Tata Motors and Dr Reddy's Laboratories fell 1-2 percent.
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