Nifty snaps four-day losing streak, but Rupee hits three-session low at 95.19
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- ✓Nifty snapped a four-day losing streak on Monday, closing at 22,753.20 after a dramatic recovery.
- ✓While Sensex gained 482.92 points, the rupee hit a three-session low at 95.19 against the dollar.
- ✓Hariselvan Radhakrishnan said, “The rebound was triggered by buying near the recent support zone and strength in heavyweight stocks.”
Story at a Glance
- Category
- MARKET
- Reported By
- Business Line
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Markets pulled off a dramatic turnaround on Monday, with the Nifty 50 touching an intraday low of 22,387 before clawing back nearly 370 points to close well in positive territory.
The Sensex settled at 73,606.75, gaining 482.92 points or 0.66 per cent, after bottoming at 72,514.57 intraday. The Nifty 50 closed at 22,753.20, up 153.20 points or 0.68 per cent, snapping a four-session losing streak. Broader markets outpaced the benchmarks, with the Nifty Midcap 100 rising 1.19 per cent and the Nifty Smallcap 100 gaining 1.38 per cent, a partial recovery after last week’s combined collapse of over 12 per cent.
“The rebound was triggered by buying near the recent support zone, a pullback in crude from last week’s high and strength in healthcare and select heavyweight stocks,” said Hariselvan Radhakrishnan, Founder and CEO of HST Wealth.
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