Indian shares recorded modest gains on Monday, following mixed signals from global markets.
The market sentiment remained cautious as investors processed weak U.S. jobs data while anticipating critical macroeconomic data due later in the week, which could provide further direction.
The imminent release of domestic industrial production and retail inflation data is expected to offer crucial insights into the health of the Indian economy and may significantly influence the Reserve Bank of India's (RBI) future monetary policy decisions.
Global attention was centered on upcoming U.S. inflation data, along with the European Central Bank (ECB) and Federal Reserve (Fed) rate decisions.
The 30-share benchmark index, BSE Sensex, concluded the session up by 375.61 points, or 0.46 percent, closing at 81,559.54. Meanwhile, the broader NSE Nifty index increased by 84.25 points, or 0.34 percent, to 24,936.40.
Financials and Fast-Moving Consumer Goods (FMCG) stocks led the gainers, with Britannia Industries, ITC, ICICI Bank, Shriram Finance, and Hindustan Unilever advancing 2-3 percent.
On the downside, ONGC fell nearly 3 percent following significant weekly losses that pushed oil prices to their lowest levels since 2021 as of Friday.
Other notable decliners included Hindalco, Tata Steel, BPCL, and Tech Mahindra, each dropping 1-2 percent.
