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Indian shares edged higher, rebounding from near seven-week lows hit earlier on Monday as stocks seen as oversold from a recent sell-off rebounded, although sentiment remained jittery after the attacks in Paris by suspected Islamist militants.
The 30-share BSE index Sensex ended higher by 149.57 points or 0.58 per cent at 25,760.10 and the 50-share NSE index Nifty ended up by 44.35 points or 0.57 per cent at 7,806.60.
Among BSE sectoral indices, banking index gained the most by 1.51 per cent, followed by capital goods 1.07 per cent, infrastructure 0.66 per cent and FMCG 0.5 per cent. On the other hand, IT index was down 0.97 per cent ,followed by TECk 0.88 per cent, consumer durables 0.06 per cent and realty 0.02 per cent.
Top five Sensex gainers were GAIL (+4.62%), Tata Steel (+3.44%), Dr Reddy's (+3.43%), SBIN (+3.23%) and Vedanta (+2.75%), while the major losers were Coal India (-1.94%), Infosys (-1.84%), HUL (-1.54%), TCS (-0.93%) and Tata Motors (-0.66%).
European shares opened lower on Monday, dragged down by travel and leisure stocks following Friday's attacks in Paris, which killed more than 130 people.
The pan-European FTSEurofirst 300 index fell 0.4 per cent and France's CAC fell 0.6 per cent, while the STOXX Europe 600 Travel & Leisure index underperformed to decline by 2.3 per cent.
Asian shares dropped on Monday, weighed down as well after data showed Japan's economy slipped back into recession in the July-September quarter.
The attacks in Paris come as Indian shares have fallen for three consecutive weeks on the back of disappointing earnings results and heavy foreign selling. Foreign investors have sold about $380 million in November according to regulatory data.
"There is no positive macro-economic data and global cues are negative. What we are seeing today is a dead-cat bounce, it doesn't mean the market is very positive," Alex Mathews, head of research at Geojit BNP Paribas said.
A report by SMC Global said: "Asian stocks were hit by a sell-off early today, with sentiment badly dented by Friday's brutal terrorist attacks in Paris. US stocks snapped a six-week winning streak as retail shares tumbled on weak earnings and economic data.Retail sales in the U.S. rose less than expected in the month of October. The report said retail sales inched up by 0.1 percent in October, while revised data showed that sales were virtually unchanged in September. Economists had expected sales to climb by 0.3 per cent compared to the 0.1 per cent uptick originally reported for the previous month."
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