Indian equity benchmarks staged a comeback on Monday, ending an eight-day losing streak and finishing the session in positive territory.
The Sensex closed at 75,996.86, gaining 57.65 points or 0.08% from its previous close.
During the day, it bounced back by 702.10 points from its intra-day low of 75,294.76 and peaked at 76,041.96.
Similarly, the Nifty ended the day at 22,959.50, up by 30.25 points or 0.13%. Throughout the session, the index fluctuated between 22,974.20 and 22,725.45.
Of the 50 Nifty stocks, 34 closed higher, with Adani Enterprises leading the rally, posting a nearly 4% gain.
Other major gainers included Adani Ports, Bajaj Finance, Power Grid, and IndusInd Bank.
In contrast, Mahindra & Mahindra, Bharti Airtel, Infosys, TCS, and ICICI Bank were among the major decliners, with losses of up to 3.45%.
The broader markets also witnessed a recovery in the latter part of the trading day.
The Nifty Midcap100 index ended with a 0.39% gain, while the Nifty Smallcap100 index posted a slight rise of 0.04%.
Several sectors showed positive movement on the NSE, with Pharma, Banks, Financial Services, Healthcare, OMCs, Consumer Durables, and Metals ending in the green.
The Nifty Pharma index performed the best, rising by 1.27%, with Glenmark Pharma and Ajanta Pharma among the key contributors.
On the flip side, the Nifty Auto, FMCG, IT, and Media sectors closed in the red, with losses of up to 0.71%.
Market experts attribute the uncertainty among foreign institutional investors (FIIs) to recent shifts in global policies. These changes, particularly from the US, are influencing their investment decisions in India.
Moreover, the high valuations in the Indian stock market are adding to investor caution, noted Vipul Bhowar of Waterfield Advisors.
Both the Sensex and Nifty had ended the previous week on a downtrend, ending their two-week winning streak with notable losses.
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