Business

Indian Equity Indices End Higher, Breaking Three-Day Losing Streak

Indian equity indices closed higher on Monday, ending a three-day losing streak. The Sensex rose by 375 points, or 0.46%, to finish at 81,559, while the Nifty gained 84 points, or 0.34%, to close at 24,936.

Private banking stocks led the rally. The Nifty Bank index closed at 51,117, up 540 points, or 1.07%. Key gainers in the Sensex included HUL, ICICI, ITC, Kotak Mahindra Bank, IndusInd Bank, Axis Bank, HDFC Bank, Nestle, and UltraTech Cement.

Sector Performance and Market Trends

FMCG, financial services, and private banks were the major gainers, while IT, auto, metals, public sector enterprises, and energy sectors lagged. Midcap and smallcap stocks saw selling pressure, with the Nifty Midcap 100 index falling by 154 points, or 0.26%, to 58,347, and the Nifty Smallcap 100 index dropping 178 points, or 0.93%, to 19,097.

Market experts noted that despite a weak global start, the domestic market showed signs of recovery. They highlighted that current US job data indicates the anticipated 25 basis point rate cut may not be sufficient. Upcoming US inflation and jobless claims data will be crucial in determining the market’s future direction.

Market Opening and Early Trends

Indian markets opened lower. By 9:32 a.m., the Sensex was down 215 points, or 0.27%, at 80,968, and the Nifty was down 78 points, or 0.32%, at 24,773. Despite this negative start, the indices eventually recovered, driven by gains in select sectors and stocks.

Also Read: Ingka Centres Launches ₹5500 Crore Meeting Place In Noida With IKEA Store

Ajaypal Choudhary

Recent Posts

PM Modi Observes Moment Of Silence For Pahalgam Terror Victims In Madhubani

PM Modi observed a moment of silence in Madhubani, Bihar, to honour the 28 victims…

13 mins ago

Former UK PM Rishi Sunak Leads International Condemnation After Pahalgam Terror Attack

Former UK PM Rishi Sunak condemned the 'barbaric attack' in Pahalgam on April 22, declaring,…

1 hour ago

One Soldier Killed In Udhampur Gunfight As Multiple Anti-Terror Operations Continue Across Jammu & Kashmir

A soldier lost his life on Thursday during a gunfight with terrorists in the Basantgarh…

1 hour ago

Gautam Gambhir Receives Death Threat; Files Police Complaint

India men’s cricket team head coach and former BJP MP Gautam Gambhir has lodged a…

2 hours ago

Pakistan Announces Missile Test As Tensions Rise With India After Pahalgam Attack

Tensions between India & Pakistan escalated after the Pahalgam terror attack, with Pakistan announcing a…

2 hours ago

Pakistan Govt’s X Account Withheld In India Following Pahalgam Attack

Tensions between India and Pakistan have risen after the Pahalgam terror attack, with Pakistan's official…

2 hours ago