Nifty Reclaims 25,000 as Banking Stocks Lead Market Recovery
· Business · Economic Times, Business Standard
Indian benchmark indices Sensex and Nifty staged a recovery from sharp intraday losses on Monday, driven by gains in banking stocks. The Sensex rose 107.25 points to close at 81,106.65, while the Nifty climbed 58.25 points to reclaim the psychologically important 25,000 level at 25,044.65. Foreign portfolio purchases and a significant decline in crude oil prices bolstered investor sentiment across key sectors. The Nifty PSU Bank index surged nearly 4% to emerge as the top-performing sectoral index of the session. Markets will remain closed on Tuesday for Diwali Balipratipada following Sunday's special Muhurat trading.
Why it matters
Banking stock rallies and falling crude oil prices help Indian markets stabilize and recover lost ground ahead of holiday closures.
Read the original report — Economic Times
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