Sensex, Nifty Rise For Second Straight Session
(RTTNews) - Indian shares advanced on Monday after the U.S. Federal Reserve Chair Jerome Powell made comments Friday to indicate the Fed may leave interest rates steady at its next meeting in June.
The upside, however, remained capped as risk-off sentiment prevailed on renewed concerns over the health of regional U.S. banks and fears over the prospect of a historic U.S. default.
U.S. President Joe Biden and top Republican Kevin McCarthy are due to meet at the White House later today for talks on lifting the U.S. debt ceiling.
Investors remain optimistic that a deal will be reached before the June 1 deadline. The benchmark S&P/BSE Sensex ended the session up 234 points, or 0.38 percent, at 61,963.68, extending gains for a second straight session.
The broader NSE Nifty index settled 111 points, or 0.61 percent, higher at 18,314.40. Adani Group stocks extended last week's rally after the Supreme Court-appointed committee to look into the Adani-Hindenburg matter did not find any regulatory failures.
Adani Enterprises surged 19.6 percent and Adani Ports soared 6.4 percent.
Tech Mahindra, Apollo Hospitals Enterprise and Divis Laboratories climbed 3-5 percent while Hero MotoCorp and Axis Bank fell around 1 percent each.
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