Indian shares edged higher on Monday, continuing a steady recovery from recent losses, with consumer sector leading the way, but gains were capped as corporate results kick off later this week.
Analysts expect a weak performance in the July-September quarter, due to the impact of the withdrawal of higher-denomination currencies from circulation late last year and the rollout of a national goods and services tax on July 1.
Market heavyweights Tata Consultancy Services Ltd
"The Nifty may not be able to sustain at 10,000 level in the next half of October as reality dawns on the guidance which companies are expected to provide soon. We can see more stock and sector-specific moves in the near term," said Sanjiv Bhasin, executive vice president, market and corporate affairs, IIFL.
The benchmark BSE Sensex was up 0.13 percent while the broader NSE Nifty was 0.1 percent higher by 0628 GMT.
Shares of consumer companies like ITC Ltd
The NSE bank index rose as much as 0.5 percent with IndusInd Bank
But Oriental Bank of Commerce Ltd
Adani Enterprises Ltd`s
Jaiprakash Associates Ltd
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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