Indian equities concluded a turbulent session with mixed results on Monday. The broader market managed to limit losses due to several factors, including a weaker dollar in global markets, declining oil prices, and renewed optimism that cooling inflation in the U.S. might trigger a cycle of interest rate reductions.
The day's trading saw profit-taking at higher levels as investors awaited the release of the FOMC minutes and the upcoming Jackson Hole speech by Fed Chair Jerome Powell for more insight on the potential for monetary easing in September.
Market participants also closely monitored developments in the Middle East, as the U.S. pushed for a truce between Israel and Hamas to end the conflict in Gaza, calling it "perhaps the last opportunity to recover the hostages."
The benchmark S&P BSE Sensex wrapped up the day with a slight decline of 12.16 points, or 0.02 percent, closing at 80,424.68 after a session marked by volatility.
Conversely, the broader NSE Nifty index edged higher, gaining 31.50 points, or 0.13 percent, to settle at 24,572.65.
In the Nifty pack, LTIMindtree, Tata Steel, BPCL, Shriram Finance, and Hindalco posted notable gains, each rising between 2 to 4 percent. On the flip side, Mahindra & Mahindra led the decliners with a 2.6 percent drop. Additionally, SBI, Axis Bank, IndusInd Bank, and Bajaj Auto each fell by approximately 1 percent.
