Sensex breaks 5-session losing run, rises 499 points – Times of India-OxBig News Network

MUMBAI: After losing about 4,100 points last week, the sensex reversed its losing run with a 499-point rally on Monday. It closed at 78,540 points, with 21 of 30 index constituents gaining. On the NSE, the Nifty gained 166 points to close at 23,753.
Monday’s recovery was driven by gains in financials and IT stocks, according to Vikram Kasat, head of advisory at Prabhudas Lilladher. “The positive sentiment was influenced by softer US inflation data, which buoyed regional markets. Investors are now focusing on RBI’s forthcoming monetary policy and the Union Budget 2025, anticipating policy measures that could further support economic growth and market stability,” he said. However, trading volumes are expected to be thin in the next few days, mainly due to this being a holiday-shortened week, he added.
The day’s gains came on the back of strong buying by domestic funds that recorded a net inflow of Rs 2,228 crore. Foreign funds remained net sellers at Rs 169 crore, BSE data showed.
Among the sensex constituents, HDFC Bank, Reliance Industries, ITC and ICICI Bank contributed the most to the day’s gain. Zomato – which was included in the sensex on Monday – closed sharply lower, down 2.8%.
The day’s rally added about Rs 76,000 crore to investors’ wealth.