Business

Sensex, Nifty trade higher as investors eye corporate earnings

Sensex, Nifty trade higher as investors eye corporate earnings

Earlier the gauge had gained almost 1300 points in the previous eight sessions. On Monday, the Sensex and Nifty closed higher for an eighth straight session in their longest winning run since late November.

Among sectors, metal was the biggest gainer with the Nifty Metal, NSE's sub-index for metal stocks rising over 1 per cent.

A mixed trend in other Asian markets following a positive lead from Wall Street also influenced sentiment.

The Indian Meteorological Department said on Monday the country would receive "normal" monsoon rainfall this year, raising hopes for higher farm output and a boost to the rain-dependent rural economy.

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Meanwhile, on a net basis, foreign institutional investors (FIIs) sold shares worth Rs 308.13 crores on Friday, provisional data showed. Asian markets opened higher, tracking the overnight gains in the United States stocks. USA stocks closed sharply higher yesterday with major indexes rallying in a broad advance as the first-quarter earnings season pointed to strong growth and geopolitical tensions showed signs of easing.

The dollar index against a basket of six major currencies was little changed at 89.441 after losing 0.4 per cent overnight.

Mumbai: The rupee fell 20 paise to 65.40 against the U.S. dollar in early trade on Monday on global trade war concerns, dip in India's exports in March and a sharp drop in domestic equities.

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