After a three-day vacation, Indian shares rose on Monday, helped by gains in the auto and real estate sectors after positive quarterly business updates. The central bank’s unexpected decision to leave the repo rate unchanged while evaluating the effects of the policy rate tightening thus far helped the indices continue their gains for a sixth straight day. Around 9.21 am, the Sensex and Nifty both moved in a 0.1-0.2% range. All sectoral indices were trading in the green, with the exception of Nifty FMCG.
Due to Good Friday, the Indian stock exchanges were closed on Friday. Auto stocks increased by more than 1%, driving up ten out of the 13 key sectoral indexes.
When numerous brokerages reiterated a “buy” rating and maintained a favourable perspective of the company following its business update for the March quarter, Tata Motors increased by 8% and was the top gainer in the Nifty.
This week, two major IT companies—TCS and Infosys—as well as banking giant HDFC Bank will release their financial results.