Indian shares end marginally higher on consumer, pharma boost

·2-min read
A bird flies past the Bombay Stock Exchange building in Mumbai

BENGALURU (Reuters) - Indian shares ended marginally higher on Monday after oscillating all day as consumer and pharmaceutical gains were offset by losses in metals, auto and public sector banks.

The blue-chip NSE Nifty 50 index ended 0.04% higher at 18,109.45 and the benchmark S&P BSE Sensex was up 0.05% to 60,718.7.

Among sectoral gainers, Nifty FMCG rose as much as 1.13% before ending 0.94% higher, boosted by shares of alcohol products maker Radico Khaitan and cigarettes-to-hotels conglomerate ITC Ltd that ended 2.47% and 2.23% higher, respectively.

The Nifty Pharma Index climbed 1.61% and ended 1.45% higher, led by Laurus Labs and Gland Pharma, which rose 8.53% and 5.16%, respectively.

Apollo Hospitals jumped to a near two-month high of 10.2% after the company's net profit and revenue rose in the September quarter.

Other gainers on the indexes included government-run Oil and Natural Gas Corporation, which ended 2.04% higher, after reporting a near seven-fold jump in second-quarter net profit, and Power Grid Corporation of India, which closed 3.46% higher.

Metal stocks ended 1.82% lower, led by losses in Hindalco, Tata Steel and Coal India, all down between 2.7% and 4.3%.

The Indian coal mining company was weighed down by both soft quarterly results and an international deal at the U.N. climate talks in Glasgow to reduce coal use.

Indian cosmetics-to-fashion platform FSN E-Commerce Ventures Ltd, which owns the Nykaa brand, ended 3.3% lower after reporting a 96% slump in quarterly net profit in its first earnings report after market debut.

SoftBank-backed PolicyBazaar's parent PB Fintech rose as much as 27% in its market debut as investors bet on India's under-penetrated insurance market.

World stock markets edged back towards recent record highs as upbeat economic data from China eased slowdown concerns. [MKTS/GLOB]

($1 = 74.3620 Indian rupees)

(Reporting by Vishwadha Chander in Bengaluru; editing by Uttaresh.V and Krishna Chandra Eluri)

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