Benchmark Indices Snap Losing Streak, Close in Positive Territory

By siliconindia  |  Monday, 17 February 2025, 05:45:03 PM IST

Benchmark Indices Snap Losing Streak, Close in Positive Territory
India's benchmark indices recovered on Monday, ending an eight-day losing streak with small gains. The Sensex gained 57.65 points, or 0.08%, to close at 75,996.86, and the Nifty added 30.25 points, or 0.13%, to close at 22,959.50.
Among the 50 stocks that made up the Nifty, 34 closed in the positive zone, with the top risers being Adani Enterprises, which jumped 4%. Other big gainers were Adani Ports, Bajaj Finance, Power Grid, and IndusInd Bank. Major losers were Mahindra & Mahindra, Bharti Airtel, Infosys, TCS, and ICICI Bank, whose shares dipped as much as 3.45%.
The larger markets also recovered in the latter half of the day. The Nifty Midcap100 index was up 0.39%, and the Nifty Smallcap100 index finished with a negligible gain of 0.04%. Pharma, Banks, Financial Services, Healthcare, OMCs, Consumer Durables, and Metals were the sectors which registered positive movement, with the Nifty Pharma index being the best performer, up 1.27%. Glenmark Pharma and Ajanta Pharma were the top gainers in the sector.
Yet, the Nifty Auto, FMCG, IT, and Media indices closed lower, down as much as 0.71%.
Experts have put the recent market volatility down to changes in policies worldwide, and more so in the US, that are sending uncertainty signals among foreign institutional investors (FIIs). High valuation of the Indian stock market is also making investors cautious, Vipul Bhowar of Waterfield Advisors said. The two-week winning streak of both indices came to an end last week with hefty losses.

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