Indian shares hit over two-week high on oil slide, tech boost
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BENGALURU - Indian shares touched a more than two-week high on Monday and were set to post a third straight session of gains, lifted by technology stocks and as easing oil prices tempered inflation fears.
The NSE Nifty 50 index rose 1.18% to 15,884.95, as of 0354 GMT, and the S&P BSE Sensex climbed 1.18% to 53,351.16.
Broader Asian peers also gained on Monday after a strong close on Wall Street last week, as oil slid on demand worries, easing fears of prolonged inflation and aggressive Federal Reserve tightening. [MKTS/GLOB]
The Nifty IT index was the best performing sub-index in Mumbai, jumping nearly 3% to its highest level since June 10.
Food delivery firm Zomato rose as much as 3.1% to a more than three-week high as the company said it would buy local grocery-delivery startup Blinkit for 44.47 billion rupees ($567.94 million) in an all-stock deal.
