Sensex ends higher; budget awaited
Indian shares ended higher on Monday as bargain-hunting lifted recently hit stocks, though sentiment remained cautious ahead of the federal budget next week.
Reuters Market Eye - The Sensex is up 0.25 percent while the Nifty gains 0.23 percent. Gains come after the wholesale price index rose a slower-than-expected 7.24 percent.
Stocks in rate-sensitive sectors such as banks and real estate are leading the gains on rising hopes the Reserve Bank of India will move towards easing interest rates starting early next year.
The RBI's next policy review is on December 18. Although the central bank is not expected to ease policy then, traders said they could cut the cash reserve ratio or sound more dovish on inflation.
ICICI Bank (ICBK.NS) gains 0.6 percent, while State Bank of India is up 1.7 percent.
In the real estate sector, DLF (DLF.NS) is up 1.3 percent while Unitech (UNTE.NS) gains 0.9 percent.
ZURICH Swiss Re has obtained regulatory approval to open a branch in India, the world's second largest reinsurer said on Monday, part of the Swiss company's growth aspirations in the world's second most populous country.
The U.S. Securities and Exchange Commission is investigating a previously disclosed data breach at Yahoo Inc, the company said in a filing.