On Monday, share markets in India opened on a flat note and ended their session marginally higher.

The BSE Sensex closed higher by 21 points, while the broader NSE Nifty ended the day flat.

Losses were largely seen in the consumer durables sector and telecom sector, while banking stocks ended the day in the green.

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Lupin share price is likely to be in focus after the United States Food & Drug Administration (USFDA) completed its inspection of the company's Nagpur facility with no integrity or repeat observations for the unit.

Bharti Airtel share price will be in focus today after it was reported that the Department of Telecom (DoT) approved the merger of Telenor India with Bharti Airtel.

This comes after the Supreme Court last week rejected DoT's petition for security deposit of around Rs 17 billion from the companies and directed it to approve the merger.

Inflation on the Rise

According to data released by the Central Statistics Office (CSO), retail inflation as measured by the Wholesale Price Index (WPI) shot up to 3.18% in April, as compared to 2.47% in March this year.

The index portrays new series of WPI data released by the government in the last fiscal, with 2011-12 as the base year, replacing existing the base year of 2004-05.

According to the data released on Monday, inflation in food articles was at 0.87% in April, as against a deflation of 0.29% in the preceding month. Fruits were the largest contributor, with prices rising by 19.5% in the month.

However, the key driver for inflation was fuel prices. April saw fuel and power prices shooting up by 7.9%, compared to a 4.7% rise in the previous month, as oil prices rose in conjunction with the global trend. The upward trend in oil prices globally, will be sure to impact May inflation numbers as well.

In its first monetary policy review for the fiscal, the Reserve Bank Of India (RBI) last month maintained status-quo on interest rate citing inflationary concerns.