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BW Businessworld

Sensex Edges Higher; Metal Stocks Gain

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The BSE Sensex is marginally higher tracking gains in Asian peers and continued foreign investor inflows.

Foreign institutional investors bought shares worth Rs 11.58 billion on 18 November, exchange data shows.

Overseas institutional investors are heading towards their third straight month of buying in Indian cash shares, totaling more than $5 billion since August, exchange and regulatory data show.

Metal shares gain after China unwrapped its boldest set of economic and social reforms in nearly three decades on Friday.

Tata Steel is up 0.4 per cent, Jindal Steel And Power gains 2.4 per cent while Hindalco Industries is up 2.7 per cent.

Shares in Financial Technologies (India) jump 5.9 per cent, adding to Monday's 20 per cent gains, after the company said its unit will sell its stake in SMX to ICE Singapore Holdings Pte Ltd for $150 million.

Shares in Multi Commodity Exchange of India, in which the company owns 26 per cent, also gain about 2 per cent.