Markets edge higher; consumer stocks fall

Mumbai: Markets edged higher, paring earlier stronger gains, as consumer good stocks fell to profit-taking and as the rupee approached its latest record low against the dollar, though State Bank of India rallied for a second session.

The NSE consumer goods sub-index fell 1.4%, led by 1-2% declines in heavyweight members such as ITC and Hindustan Unilever.

However, State Bank of India extended a rally, gaining 3.3% after posting on Friday stronger-than-expected earnings.

The main 30-share BSE index provisionally ended up 0.2% at 16,183.26 points.

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Indian markets rose on Monday despite the fall in the rupee. Mint’s Lisa Pallavi Barbora looks at some the key winners from the session

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The broader 50-share NSE index added 0.3% to 4,906.05 points.