Indian shares gain as metal stocks rise
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Indian shares rose in early trade on Monday after logging their second straight weekly loss in the previous session, lifted by the rising metal stocks, while investors awaited the outcome of OPEC+ meeting later in the day.
The NSE Nifty 50 index was up 0.31% at 17,594.40 as of 0353 GMT, and the S&P BSE Sensex rose 0.38% to 59,027.12.
The Nifty metal index extended gains from the previous session to climb 1.1% and was the top performer among other sub-indexes.
Aluminium and copper producer Hindalco Industries and JSW Steel were the top gainers on the Nifty 50 index, climbing 1.8% and 1%, respectively.
Market participants will turn their focus to the meeting later in the day of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, where they may decide to keep current output levels or even cut production to bolster prices, despite supplies remaining tight. [O/R]
