Indian stock markets ended with gains Monday, a day ahead of the Reserve Bank of India's (RBI) first bi-monthly monetary policy review meeting in financial year 2016-2017. The S&P BSE Sensex edged higher by 130 points to close at 25,399, while the NSE Nifty settled at 7,758, up 45 points.
Shares of IT software services firm Infosys hit a new 52-week high of Rs. 1,249.90 during the day before closing at Rs. 1,243.55, a gain of 3.12 percent over its previous close.
Idea Cellular and Bharti Airtel gained after reports that the government has cut spectrum usage charges from five percent to three percent, reported NDTVProfit.
Shares of cigarette-maker ITC fell 1.6 percent to Rs 330.70 in response to the suspension of production since last Friday over confusion on the government's new health warning rules for cigarette packs.
Infibeam Incorporation, which debuted on the stock exchanges Monday, ended the day at Rs. 445.70, a gain of Rs. 13 over its issue price of Rs. 432 per share. The stock hit an intraday high of Rs. 466.90.
Top Sensex gainers included Mahindra & Mahindra, Bharti Airtel, Infosys, Tata Motors and Asian Paints, while stocks that remained laggard in trade included ITC, Maruti Suzuki and Axis Bank.
On the Nifty, the gainers were Idea Cellular, Tata Power and Bharti Airtel, while stocks that lost included Ambuja Cement, ITC, HDFC and Maruti Suzuki.
