Indian share prices edged up 0.17 percent in volatile trade on Monday after shedding early gains on fears of a further sell-off on Wall Street, dealers said. They said the markets bounced back intraday on improving Asian market trends but investors preferred to unwind positions towards the close.
The Mumbai stock exchange benchmark 30-share Sensex index closed up 26.34 points to 15,260.91, off a day's high of 15,451.81. The markets plunged 3.43 percent or 541.74 points on Friday. Banking stocks rose ahead of monetary policy review on Tuesday, where analysts expect India's central bank to leave interest rates on hold as fears ease that the country's fast-growing economy is overheating.
"The markets were volatile with no clear trends emerging. We expect a sharp correction in coming days until global markets trends ease," said Hiten Mehta, fund manager with Fortune Financial Services.