Indian shares were little changed on Monday with losses in financials such as Bank of Baroda Ltd and telecom company Idea Cellular Ltd outweighing gains in IT stocks. However, investor sentiment was upbeat as Asian shares ticked up on renewed optimism over U.S. President Trump's tax reform plans and his change of tack to agree to honor the "one China" policy.
Trump plans to announce the most ambitious tax reform plan since the Reagan era in the next few weeks, the White House said last week, sending stock prices and the dollar higher on hopes for a cut in corporate tax rates. "Markets have been fairly strong after the budget and mid-caps have been doing well...
The global mood is also helping boost sentiment (in India)," said Jayant Manglik, president, retail distribution, Religare Securities. The Nifty was down 0.03 percent at8,791.60 as of 0531 GMT, while the benchmark Sensex was 0.02 percent down at 28,319. As of Friday's close, the Nifty had gained 2.7 percent since the budget on Feb. 1, rising in seven sessions out of the eight so far this month.
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