Mumbai– Indian stock markets showed strong resilience on Monday, rebounding sharply from early losses to close with only modest declines.
The Sensex ended the session at 81,374, down 77 points or 0.09 percent, after recovering 719 points from its intraday low of 80,654. The Nifty closed at 24,717, slipping 34 points or 0.14 percent, after bouncing back from a low of 24,526.
Markets opened weak after former U.S. President Donald Trump announced a plan to double tariffs on steel imports—from 25 percent to 50 percent—set to take effect June 4. Rising geopolitical tensions between Russia and Ukraine, volatile foreign investment flows, and caution ahead of the Reserve Bank of India’s upcoming policy decision also contributed to early pressure.
However, selective buying in key blue-chip stocks helped the market stage a strong recovery. Adani Ports, Mahindra & Mahindra, Zomato (traded as Eternal), PowerGrid, Hindustan Unilever, Bajaj Finserv, ITC, ICICI Bank, Asian Paints, and Nestle India posted gains ranging from 0.4 to 2 percent.
Broader markets outperformed, with the Nifty MidCap and Nifty SmallCap indices rising 0.62 percent and 1.1 percent, respectively.
Sector-wise, Nifty IT and Nifty Metal fell 0.7 percent, hurt by concerns over U.S. trade policy. In contrast, Nifty Realty and Nifty PSU Bank led the gains, each rising over 2 percent.
“The market continued its consolidation phase for the third straight week amid renewed fears of a tariff war and geopolitical instability,” said Vinod Nair of Geojit Financial Services. “Despite global uncertainties, India’s market has shown strength, supported by institutional inflows and sector-specific resilience, particularly in FMCG, real estate, and financials.”
Nair added that investors are currently favoring short-term, cautious strategies focused on domestic and interest-sensitive sectors. (Source: IANS)
