Indian shares edge higher; defensives lead
MUMBAI Nov 5 (Reuters) - Indian shares edged up on Monday, led by gains in defensive stocks such as ITC and Dr. Reddy's Laboratories, while auto stocks such as Bajaj Auto fell on profit-taking, reversing October sales gains.
ITC provisionally rose 1.75 percent while Dr. Reddy's Laboratories gained 1.3 percent.
Bajaj Auto ended 2.3 percent lower, while Mahindra & Mahindra fell 0.7 percent.
The BSE index provisionally gained 0.04 percent, while the 50-share NSE index ended up 0.08 percent. (Reporting by Abhishek Vishnoi; Editing by Subhranshu Sahu)
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The Nifty will stay in a broad band of 7,800-8,200 with an immediate resistance at around 8,050 levels. One should look to selectively accumulate in sectors such as infrastructure, capital goods, cement, power and metals. The outperforming sectors such as pharma, IT and auto ancillaries could take a breather due to international headwinds, writes Ambareesh Baliga. Full Article
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