BENGALURU, Oct 4 (Reuters) - Indian shares closed higher on
Monday after falling for four straight sessions, boosted by
banking and pharmaceutical stocks, with investors now eyeing a
central bank policy meeting and the start of the domestic
corporate results season.
The blue-chip NSE Nifty 50 index ended 0.91% higher
at 17,691.25, while the benchmark S&P BSE Sensex rose
0.91% to 59,299.32.
The indexes last week had posted their worst weekly
performance in several months, as the market consolidated after
touching several record highs in September when lower COVID-19
cases prompted an easing in restrictions across the country.
Looking ahead, a meeting by the Reserve Bank of India is on
investors' radar as it could point towards an unwinding of its
accommodative monetary policy, while IT firm Tata Consultancy
Services will kickstart September-quarter earnings
season when it announces its results on Friday.
Among individual shares and sectors, public sector banks
jumped more than 2% on Monday to drive gains on the
benchmark index, with Union Bank of India rising over
Pharmaceutical stocks advanced 1.5%. Divi's
Laboratories surged 8% after global drugmaker Merck &
Co reported positive trial results for its COVID-19
pill, the main ingredient of which is made by Divi's Labs.
Energy shares added 1.5%, while tech stocks
Gains in the energy sector was driven by power retailer NTPC
Ltd as it rose more than 4%, after media reports of
the company looking to raise 150 bln rupees ($2.02 bln) through
IPOs in three units.
(Reporting by Soumyajit Saha in Bengaluru; editing by