Indian shares recovered from an early slide to end slightly higher on Monday, with gains in European markets and U.S. stock futures lending some support.
Markets fell sharply earlier in the day amid signs of escalating tensions in the Black Sea and mounting concerns around County Garden, a major property developer in China.
A spike in the dollar index and bond yields also spurred risk aversion after Friday’s stronger-than-expected producer price data from the United States stoked concerns about the possibility of U.S. interest rates rising further.
The benchmark S&P BSE Sensex hit an intraday low of 64.821.88 before recovering to end the session up 79.27 points, or 0.12 percent, at 65,401.92.
The broader NSE Nifty index settled 6.25 points, or 0.03 percent, higher at 19,434.55, after having hit a low of 19,257.90 earlier in the day.
The rupee slipped on broad dollar strength and ahead of key wholesale and consumer inflation data for July, due later in the day.
Metal, financial and Adani Group stocks were among the prominent decliners, with Adani Ports, SBI, Hindalco, JSW Steel and Adani Enterprises falling 2-4 percent.
On the positive side, Reliance Industries, Hindustan Unilever, LTMindTree, Infosys and Divis Laboratories rose 1-2 percent.
Sensex, Nifty Recover Early Losses To Finish Marginally Higher
2023-08-14 10:40:21
