Indian shares end higher as Reliance gains; inflation data in focus
Indian shares closed higher on Monday, boosted by conglomerate Reliance Industries Ltd and software major Infosys Ltd, while investors eyed more inflation data due later in the day.
The blue-chip NSE Nifty 50 index ended 0.08% higher at 15,811.85, while the benchmark S&P BSE Sensex rose 0.15% to 52,551.53 at close.
On traders' radar is consumer price inflation (CPI) data after market close on Monday, with a Reuters poll showing India's retail inflation likely rose last month after a three-month low in April on higher food and energy prices.
In Mumbai trading, Reliance Industries and Infosys were among the top performers on the Nifty 50, gaining 1.4% and 0.9%, respectively. Reliance shares have gained in five of the last eight sessions. The Nifty IT index, which rose 4.52% last week, added 0.34%.
Limiting gains was top Nifty 50 loser Adani Ports and Special Economic Zone Ltd, which slumped 8.5%. The National Securities Depository Ltd has frozen the accounts of three foreign funds that have invested 435 billion rupees ($5.94 billion) in Adani group companies, the Economic Times reported.
Adani Enterprises, the conglomerate's flagship company, ended 6.3% lower. The companies had earlier reduced some losses after they said the report was "erroneous".
Among other notable losers, Lupin Ltd fell 3.1% after the drugmaker said it received a warning letter from the U.S. Food and Drug Administration on its New Jersey facility.
Investors are also keeping a tab on the U.S. Federal Reserve's policy meeting this week, with many expecting the central bank to maintain its dovish stance. Some Fed board members, however, have said the central bank should start discussing tapering its bond-buying.
