Sensex gains new oil minister lifts RIL

SENSEX-RELIANCE-INDUSTRIES-MOILY-MAHINDRA:Sensex gains new oil minister lifts RIL

 

Reuters Market Eye - The Sensex gains 0.55 percent, while the Nifty advances 0.49 percent. Reliance Industries rise 1.4 percent on hopes for improved relationship with the government after the appointment of Veerappa Moily as the new Petroleum and Natural Gas Minister on Sunday.

Mahindra & Mahindra shares gain 1.6 percent, advancing for a third consecutive session after posting stronger-than-expected July-September results on Thursday.

However, Hindustan Unilever falls 0.2 percent, heading for a third day of declines. India's largest consumer goods maker disappointed investors with its July-September sales volumes out on Friday.

Traders expect thin volumes during the session ahead of the RBI's policy review on Tuesday.

 

Analysts expect the central bank to keep rates on hold to keep inflation in check.