Nifty ends marginally higher, ending 8-day losing streak led by financial stocks

The Sensex gained 58 points to close at 75,997 on Monday, while the Nifty rose 30 points to 22,960.

The Indian equity markets have fallen for eight days in a row, its first such decline in two years. This fall was primarily due to persistent FII outflows and worries regarding potential retaliatory tariffs from the US.

While the quarterly season has now ended, investors will focus more on trends in FII flows and currency movement for further cues. Also, speculation regarding US tariffs and their impact on trade globally is also a key factor to watch out for.
The Nifty Bank index surged 159 points, ending at 49,259, and the Midcap index gained 196 points to close at 49,850. Manappuram Finance saw a 9% rise, continuing its short-covering rally. Ashok Leyland posted fresh buying interest, ending 5% higher.Glenmark Pharmaceuticals saw a 4% rise, maintaining its FY25 guidance despite a weak Q4. JSPL rebounded sharply, benefiting from promoter buying of additional shares. However, selling pressure continued in stocks like PB Fintech, Supreme Industries, and Varun Beverages.

CG Power emerged as one of the top midcap gainers, closing up 6%, while M&M ended 4% lower, despite strong booking data for its electric vehicles. Bharti Airtel ended near the day’s low after reports that Singtel may sell its stake in the Indian telecom giant.

Zen Technologies saw a sharp 20% drop despite steady Q3 earnings, while Senco Gold fell another 9% on weak earnings for the quarter. On the upside, GSK Pharma rose 20% after reporting strong Q3 results.

Market breadth remained in favour of declines, with the advance-decline ratio at 1:2.