Bengaluru, November 22 (BNA): Indian stock indices rose, after falling for three consecutive sessions, supported by gains made by UltraTech Cement, the largest cement producer.
The benchmark S&P BSE Sensex rose 0.11% to 61,212.36, while the NSE Nifty 50 rose 0.08% to 18,175.10, Reuters reports.
UltraTech Cement led the gains on Nifty, rising 2.4% to a nearly three-week high, while parent company Grasim Industries advanced 2.1%.
AK Prabhakar, Head of Research, IDBI Capital, said Indian markets are likely to be range-bound and not follow global signals ahead of state elections scheduled for December.
Among individual sectors, the Nifty PSU Bank Index which tracks public sector lenders rose 1.3% and was set to post its sixth day of gains.
Foreign institutional investors sold 15.94 billion Indian rupees ($195.11 million) worth of shares on Monday, while local investors bought 12.63 billion rupees ($154.59 million) worth of shares, according to interim NSE data.
NDTV stock fell more than 4.6% with Adani launching an open offer for an additional 26% stake in the company. Offer price is Rs 294 at 23.07% discount as of last closing.
Elsewhere in Asia, stock markets were downbeat on fears of a resurgence of COVID-19 in China.
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