Right towards the finish, the Sensex and Nifty recover

The three-day winning streak was stopped when Indian equities benchmarks recovered just before the end of the trading session on Monday.

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The three-day winning streak was stopped when Indian equities benchmarks recovered just before the end of the trading session on Monday. They had recovered significantly from a sluggish start but not nearly enough to close with gains.

Even the slight relief may not last long because there were obvious anxieties throughout the day, with trading patterns showing cautious and cautious betting ahead of local and international inflation statistics later this week, which will help to determine the course of monetary policy.

The financial markets have been violently fluctuating this year, so any small gains may just be a one-off event rather than a larger trend.

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The benchmark 30-share BSE index dropped 86.61 points to close at 54,395.23. The larger NSE Nifty ended the day at 16,216, down approximately 5 points.

The Sensex pack’s main laggards included Bharti Airtel, TCS, HCL Technologies, Infosys, Wipro, Tech Mahindra, Larsen & Toubro, and Power Grid.

TCS’s share price dropped by almost 5% after its first-quarter earnings fell short of market forecasts.

The largest software exporter in the nation, TCS, reported a 5.2% increase in net profit for the June quarter to 9,478 crore on Friday. However, this increase was constrained by the impact of annual wage increases and promotions, which caused operating profit margins to decline to multi-quarter lows.

Tata Steel, M&M, Dr. Reddy’s Lab, ICICI Bank, and Asian Paints, on the other hand, were among the winners.

“As the domestic market turned its focus towards quarterly results, the weak start of IT earnings wounded the sentiments, forcing benchmark indices to open on a weak note. However, with support from banking, metal and energy stocks, the domestic market managed to pare its losses to close flattish,” Vinod Nair, Head of Research at Geojit Financial Services, told PTI.