BENGALURU, June 27 Reuters Indian shares joined a rally in global stock markets to close at a more than twoweek high on Monday, led by technology and metal stocks, as easing oil prices tempered inflation fears.

The NSE Nifty 50 index rose 0.85 to 15,832.05, and the SP BSE Sensex climbed 0.82 to 53,161.28, with both the indexes gaining for a third straight session.

While the change in mood has come as a major relief, the optimism may remain for a few more sessions before the market turns volatile amid concerns over slowing global economy due to rate hikes and continuing foreign fund outflows, said Shrikant Chouhan, head of equity research retail at Kotak Securities.

Worries around inflation and policy have driven the benchmark indexes down around 4.5 each for the month so far, putting them on track for their worst month since the pandemichit March in 2020.

On Monday, the Nifty IT was the best performing subindex in Mumbai, jumping 2.3 to its highest since June 10, boosted by a 2.8 rise in heavyweight Infosys.

The Nifty Metal index, which has fallen sharply this month, rose 1.5.

Welspun Corp jumped 4.5 after the steel products maker said it received orders worth 6 billion rupees.

Shares of two and threewheeler maker Bajaj Auto gave up some of the early gains, settling 1.3 higher, as analysts said its 25 billion rupee 319.23 million open market share buyback announcement disappointed investors.

Aurobindo Pharma slipped 1 after the drugmaker said it received a…