Indian benchmark stock indices edged higher in early trading on Monday, lifted by bargain hunting in heavyweights such as HDFC Bank and Infosys, although geopolitical risks and higher oil prices dented investor sentiment, The Hindu reports.
The 30-share BSE Sensex was trading 202.42 points, or 0.3%, higher at 77,744.15 at the time of writing. The broader NSE Nifty gained 55.35 points, rising to 24,309, according to market data.
Shares of Infosys, HCL Technologies, Tata Steel, Tech Mahindra, Tata Consultancy Services and HDFC Bank rose the most in early trading among their Sensex peers.
Those of Asian Paints, Titan, Power Grid and Bharat Electronics dipped. Asian markets edged lower on Monday.
Markets in the United States ended the session higher on Friday.
Brent crude, the international oil benchmark, shed about 1.3% to $93.14 a barrel.
“Middle East tensions continue to shape the broader market mood,” said Ponmudi R, CEO, Enrich Money. “For the Indian investor, the sustained stand-off between the U.S. and Iran and its impact on oil prices is the biggest ongoing uncertainty.”
Indian stocks faced foreign selling on Friday, with foreign institutional investors (FIIs) selling equities worth 5.43 billion rupees, according to exchange data. The Sensex and Nifty had closed flat in the previous session.
