Indian shares rose 0.34 percent on Monday, posting their second straight day of gains as inflationary concerns eased on lower oil prices. The benchmark 30-share Sensex index rose 48.86 points to 14,450.35, off a day's high of 14,672.69. "Lower oil saw the markets open strong but it shed most gains on profit-booking and subdued European markets," said a dealer at brokerage ICICI Securities.
Last Thursday, India's inflation accelerated to a fresh 13-year peak of 12.63 percent for the week ended August 9, official data showed, fuelling expectations of more monetary tightening.