Indian markets snap 5 day slide as Sensex Nifty rebound
After five straight days of losses, Indian stock markets finally caught a break on Monday.
By midday, the Sensex was still down by 292.57 points at 77,716.68 and the Nifty slipped by 64.40 points to 24,301.60, but both had bounced back noticeably from their lowest levels earlier in the day.
The mood was mixed overall, with more stocks falling than rising.
Buyers lift Nifty above 24,250
What turned things around? Investors jumped in to buy stocks at lower prices after the recent selloff, helping the Sensex climb back by 250 points and lifting Nifty above that important 24,250 mark.
Plus, market volatility dropped (India VIX eased to 11.47), signaling less panic among traders.
Analysts say holding above key levels could help keep further selling in check and bring some much-needed stability for now.