Indian shares follow broader Asia higher; Ambuja Cements, ACC up
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/05/9c5fba11ac4180017c43de771accaa68.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
BENGALURU - Indian shares inched higher on Monday as broader Asia tried to hold onto small gains after weak data from China showed that strict lockdowns hit the world's second-largest economy.
The NSE Nifty 50 index was up 0.54% at 15,868, as of 0353 GMT, while the S&P BSE Sensex rose 0.29% to 52,946.32. On Friday, both indexes logged their fifth straight weekly drop, marking their longest weekly losing streak since 2020.
Shares of Ambuja Cements and unit ACC rose 2.9% and 6.4%, respectively, after conglomerate Adani Group said it would buy Holcim AG's controlling stake in the companies.
Rivals UltraTech Cement and Shree Cement fell 2.5% and 1.8%, respectively, and were among the top losers on the Nifty 50 index.
Broader Asian shares struggled to sustain a minor rally after weak data from China underlined the deep damage lockdowns were doing to the world's second-largest economy. [MKTS/GLOB]
China's retail sales in April shrank 11.1% from a year earlier, the biggest contraction since March 2020, data from the National Bureau of Statistics showed.
![](https://portfolio.investmentguruindia.com/uploads/news/Real Estate.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/HSBC_010524.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Budget2024.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Mutual Fund 17.11.2023.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Budget_2.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Jayant Chaudhary07.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Budget_1.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/growth chart.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Rupee 1.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/tax17.jpg)