Indian shares extended their early gains on Monday to rise more than 1%, aided by a broad risk-on sentiment in the region after U.S. data hinted at less aggressive rate hikes.
on Friday helped the sentiment after U.S. payrolls expanded more than expected. This came even as wage increases slowed, easing worries about the Federal Reserve's future rate hike decisions.
"As of now, the tone is likely to remain that of a consolidation for the key indexes," said Ajit Mishra, VP, Technical Research at Religare Broking. "The bias [will be] slightly on the negative side until we see a very decisive trend with the earnings season, especially in the U.S., for gains to sustain."was up more than 2%, set to become the best-performing index among the other 13 major Nifty sectoral indexes, if gains hold.
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