Sensex edges higher; metal stocks gain

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

Foreign institutional investors bought shares worth 11.58 billion rupees on Monday, 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 percent, Jindal Steel And Power gains 2.4 percent while Hindalco Industries is up 2.7 percent.

Shares in Financial Technologies (India) jump 5.9 percent, adding to Monday's 20 percent 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 percent, also gain about 2 percent.

(Reporting by Abhishek Vishnoi)