Stock Market Today: Nifty, Sensex Snap Five–Day Losing Streak; ICICI Bank, M&M Rise

At 3:30 p.m., Dow Jones futures contract was 0.6% higher at 42,547.0, that of S&P 500 was up 0.7% at 5,883.75, and Nasdaq 100 was 0.9% up at 5,883.75.

• UK: Confederation of British Industry Realised Sales — 4:30 p.m. IST

• China: The Conference Board Leading Index — 6:30 p.m. IST

The NSE Nifty 50 and BSE Sensex snapped a five–day losing streak on Monday as a rise in share prices of ICICI Bank Ltd., and Mahindra & Mahindra Ltd. The benchmark indices recorded the best session in one month.

The Nifty 50 ended 158.35 points or 0.65% higher at 24,339.15, and the Sensex ended 602.75 points or 0.76% higher at 80,005.04.

A rise in Indian benchmarks' Asian peers also supported the recovery on Monday. Asian share indices mostly gained on Monday as oil prices declined and the Japanese yen declined to the lowest level since July 31.

During the session, the Nifty 50 rose as much as 1.29% to 24,492.60, and the Sensex rose 1.43% to 80,539.81.

Indian markets commenced the truncated week on a firm note under the leadership of Banking counters and in the presence of a follow-through momentum, the Index compounded its gains for most of the session; however, in the last hour of the trading session, a reversal was seen which dragged the Index lower to end the session at 24,339.15 with gains of 158.35 points, said Aditya Gaggar, director, Progressive Shares

All the sectors ended the day in green with PSU Banks and Metal being the top performers. Mid and Smallcaps also surged by 0.83% & 1.20% respectively and outperformed the Benchmark Index. The Index has made a Spinning Top candlestick pattern which suggests indecisiveness. We will wait for a convincing move above 24,600 where it will give a breakout from two different patterns: a change in polarity, falling wedge; whereas, on the lower side, the zone of 24,100-24,180 will act as a strong support area, Gaggar said.

ICICI Bank Ltd., Mahindra & Mahindra Ltd., State Bank of India, Shriram Finance Ltd., and Sun Pharmaceutical Industries added to the index.

HDFC Bank Ltd., Axis Bank Ltd., Coal India Ltd., Bajaj Auto Ltd., and Kotak Mahindra Bank Ltd. weighed on the Nifty 50 index.

All 12 sectors ended higher on NSE. The NSE Nifty PSU Bank was the top performing sector, and the NSE Nifty Energy was the worst performing sector.

Broader indices also rose. BSE Midcap closed 0.69% higher and BSE Smallcap ended 1.1% higher.

Three out of 20 sectoral indices closed lower and 17 rose. BSE Services fell the most and BSE Commodities was top gainer.

Market breadth was skewed in the favour of buyers. As many as 2,593 stocks rose, 1,401 fell, and 159 remained unchanged on the BSE.

The local currency closed flat against the US dollar at 84.0700 on Monday. On Friday, the Indian unit closed at 84.0800 a dollar, according data on Cogencis.

• The NSE Nifty 50 and BSE Sensex posted the best intraday gains since September 20

• The Nifty 50 and Sensex snapped a five–day losing streak.

• ICICI Bank Ltd. and Mahindra & Mahindra Ltd. were the top gainer in the Nifty 50 index.

• HDFC Bank and Axis Bank shares were top loser in the NSE Nifty 50 index.

• The NSE Nifty PSU Bank was the top performing sectoral index. It ended 3.78% higher at 6,521.30.

• The NSE Nifty Energy was the worst performing sectoral index. It ended 0.15% higher at 39,123.50.

• The NSE Nifty Midcap 150 settled 0.64% higher at 20,695.55.

• The NSE Nifty Smallcap 250 ended 1.15% higher at 17,151.60.