Mumbai: Most Indian stocks climbed, with the benchmark index remaining little changed. Reliance Communications Ltd. and HDFC Bank Ltd. led the advance.
Reliance Communications, the nation's second-largest mobile-phone operator, rose 1.8 per cent, extending its gains this month to 5.8 per cent. HDFC Bank, the third-biggest lender, jumped the most in a month. Tata Motors Ltd., the country's biggest truckmaker and owner of Jaguar Land Rover, retreated for a fourth day.
The Bombay Stock Exchange's Sensitive Index, or Sensex, was little changed at 20,025.42 at close in Mumbai, after swinging between gains and losses at least 30 times. Nineteen stocks rose, while 11 fell on the gauge. The combined turnover on the two main exchanges dropped to $2.7 billion (Dh9.93 billion) on Monday, compared with a three-month average of $4.7 billion.
"We believe holidays are an excuse for investors for not taking major actions," said Jigar Shah, head of research at Kim Eng Securities India Pvt. in Mumbai. "Inactivity and a negative bias indicate a correction soon."
Outlook
Data provided by the Securities and Exchange Board of India show foreign investors are poised to turn net sellers of local stocks for the first month since May, trimming their record purchases for the year. They bought $28.4 billion more Indian shares than they sold in 2010.
The S&P CNX Nifty Index on the National Stock Exchange declined less than 0.1 per cent to 5,996.
