Benchmark indices were up slightly in early trade Monday. Brokers said increased political uncertainty in view of the Opposition’s latest attacks on the government could limit upside near term.

The BSE Sensex was up 51 points at 19338, and the Nifty was up 11.65 points at 5883.  share markets from the power, pharma and auto sectors were firm, while banking, IT and metal shares were sluggish.

Key gainers included LIC Housing, Suzlon, Indraprastha Gas, Castrol and Hero Motocorp, up between 2-4 percent. Laggards included Jindal Steel, Ambuja Cements, Federal Bank, Exide and Mahindra & Mahindra Financial Services, down 2-5 percent.

Hindustan Unilever and Sterlite Industries will be announcing quarterly numbers later today. A key trigger for the market this week is the review of the RBI’s monetary policy this Friday. The market is expecting a 25 basis point-cut in interest rates.

GLOBAL MARKETS ROUNDUP

Asian shares crept ahead on Monday, while the dollar lost ground to the yen as markets hunkered down for a busy week for economic data and central bank policy meetings in the euro zone and United States.

The dollar eased versus the yen on Monday, staying on the defensive after sliding on Friday, when data showed the U.S. economy grew at a slower-than-expected pace in the first quarter.

Brent crude eased under $103 a barrel on Monday as investors fretted about the uncertain outlook for growth in the world’s two largest oil consumers, the United States and China.

Benchmark U.S. Treasuries yields fell on Friday after data showed the U.S. economy grew at a slower-than-expected pace in the first quarter, adding to fears that next week’s closely watched payrolls report for April may also disappoint.

LOCAL MARKETS PREVIOUS CLOSE
* BSE index 19,286.72 (-0.62 pct)
* NSE index 5,871.45 (-0.76 pct)
* Rupee 54.3750/3850 per dollar (54.21/22)
* 10-year bond yield 7.74 pct (7.77 pct)
* 5-year OIS rate 6.95 pct (6.97 pct)
* 1-year OIS rate 7.21 pct (7.22 pct)
* Call money 7.50/7.60 pct (7.60/7.70 pct)