India’s benchmark indices rebounded on Monday, snapping an eight-day losing streak and closing the trading session in positive territory.
The Sensex rose by 57.65 points, or 0.08 percent, finishing at 75,996.86, while the Nifty gained 30.25 points, or 0.13 percent, to close at 22,959.50.
Of the 50 stocks comprising the Nifty index, 34 ended the day in the green, with Adani Enterprises leading the gains, surging 4 percent.
Among the top gainers were Adani Ports, Bajaj Finance, Power Grid and IndusInd Bank.
On the other hand, Mahindra & Mahindra, Bharti Airtel, Infosys, TCS, and ICICI Bank were among the major losers, with their shares falling as much as 3.45 percent.
The broader markets also saw a recovery in the second half of the trading day.
The Nifty Midcap100 index closed with a gain of 0.39 percent, while the Nifty Smallcap100 index ended with a marginal increase of 0.04 percent.
Among the sectors on the NSE, Pharma, Banks, Financial Services, Healthcare, OMCs, Consumer Durables, and Metals showed positive movements.
The Nifty Pharma index was the top performer, which rose 1.27 percent during the session, with Glenmark Pharma and Ajanta Pharma leading the gains.
However, the Nifty Auto, FMCG, IT, and Media indices ended lower, with declines of up to 0.71 percent.
According to experts, recent shifts in global policies, especially those emerging from the US, are invoking a sense of uncertainty among foreign institutional investors (FIIs), which in turn is reshaping their investment strategies in dynamic markets like India.
Additionally, the prevailing high valuations in the Indian stock market have added to the caution among investors, said Vipul Bhowar of Waterfield Advisors.
Last week, both indices ended their two-week winning streak with significant losses.
–IANS
