Nifty snaps four-day losing streak, but Rupee hits three-session low at 95.19

The Nifty 50 reversed a four-day losing streak on Monday, closing at 22,753.20, up 0.68 percent. The benchmark index rallied nearly 153.20 points after slipping to an intraday low of 22,387. The Sensex also finished higher, gaining 0.66 percent to settle at 73,606.75. Broader markets outperformed the benchmarks, with the Nifty Midcap 100 and Nifty Smallcap 100 both registering gains of 1.19 percent and 1.38 percent, respectively.

Sector leaders included Metals, Pharma, Healthcare, Oil and Gas, and Capital Goods. Notable performers within the Nifty 50 were Dr. Reddy’s Laboratories, which jumped 7.08 percent, and JSW Steel, which rose 4.27 percent. However, Shriram Finance and Tata Consumer Products saw the biggest declines. Despite the equity recovery, the rupee weakened for the third consecutive session, falling to 95.19 against the US dollar.

The decline was attributed to weaker Asian currencies and rising domestic bond yields. Brent crude prices eased to around $115 per barrel, although West Asia supply risks kept prices elevated. Analysts expect volatility to remain elevated this week due to three major central-bank decisions, including the US Federal Reserve, European Central Bank, and Bank of Japan.