Indian shares advanced on Monday as strong earnings from Tata Motors Ltd and DLF Ltd added to the optimism over cooling domestic retail inflation.
, which rose as much as 4.89% to a fresh 52-week high, pushed up the realty index. Both companies had reported a surge in March-quarter profit.
"Expect further consolidation due to mixed signals from the global front," said Ajit Mishra, vice president - technical research at Religare Broking Ltd.India's retail inflation dataof 4.7% in April, well below the central bank's upper tolerance limit of 6% for the second consecutive month. India's wholesale price index inflation for April, due on Monday, is also expected to ease on base effects.
Economists now expect India's central bank to maintain a "pause" on rate hikes, following the slide in inflation. Global equities, on the other hand, remained subdued, after a survey showed U.S. consumer sentiment fell to a six-month low in May on fears of a potential recession. Caution ahead of key macro data and rate decision from China also weighed on sentiment.lost more than 4%, the most among Nifty 50 stocks, after reporting a smaller-than-expected profit., which operates the DMart chain of retail stores, fell as much as 4.65% after reporting a drop in profit margins.
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