Indian equity benchmarks staged a sharp rebound on Monday, August 11, after both SENSEX and NIFTY hit three-month lows in the previous session, marking their longest weekly losing streak in five years. The SENSEX surged up to 700 points intraday, while the NIFTY50 regained the key 24,550 level, touching a high of 24,583.65.
By 2:52 pm, the SENSEX was up 670 points at 80,528, and the NIFTY50 rose 212 points to 24,576.
Global Boost from Trump-Putin Talks
Investor sentiment improved after reports that US President Donald Trump and Russian President Vladimir Putin will meet on August 15 in Alaska to negotiate an end to the Ukraine war. India’s Ministry of External Affairs welcomed the planned talks, expressing hope for progress.
Analysts say a breakthrough could lead the US to roll back the additional 25% tariff on Indian goods imposed over India’s imports of Russian oil. Trump had earlier warned of new sanctions and tariffs on countries buying Russian exports unless the conflict ended.
Technical Recovery
Market experts noted that Monday’s gains were also driven by technical factors. Heavy selling had pushed the NIFTY50’s Relative Strength Index (RSI) to 31, close to the oversold zone, prompting short covering and a bounce-back.
Heavyweights Lead the Rally
Top contributors to the SENSEX gains included HDFC Bank, Reliance Industries, State Bank of India, Larsen & Toubro, Eternal, Axis Bank, and Tata Motors, adding over 450 points collectively.
Sector-Wide Gains
All major sector indices on the NSE traded higher, led by NIFTY PSU Bank’s 2% jump. Realty, Healthcare, Auto, Financial Services, FMCG, Metal, Bank, and Pharma indices gained between 0.8% and 1.9%. The NIFTY Midcap 100 rose 0.91% and the Smallcap 100 climbed 0.42%.
Top Gainers and Losers
Adani Enterprises led the NIFTY50 gainers, rising 4.95% to ₹2,286. Other notable gainers included Eternal, Tata Motors, Trent, Grasim Industries, State Bank of India, Apollo Hospitals, Ultratech Cement, and Jio Financial Services, which rose 1.9%–3.12%.
On the downside, Hero MotoCorp, ICICI Bank, Bharat Electronics, Power Grid, and Bharti Airtel were among the key losers.