Indian shares concluded Monday on a flat note, having spent the majority of the day in negative territory.
The benchmark BSE Sensex index, which consists of 30 shares, fell by 265 points during the morning session. However, a significant recovery followed, leading the index to close at 79,960, a decrease of 36 points, or 0.05 percent, from the previous close.
Meanwhile, on the NSE, the broader Nifty50 index dipped below the 24,250 mark before slightly rebounding to close down by 3 points, or 0.01 percent, at 24,320.
In the Nifty pack, Adani Ports, Shriram Finance, BPCL, Divis Laboratories, and Titan Company saw declines of 2-3 percent. In contrast, HDFC Life, ITC, and ONGC experienced gains ranging from 2-4 percent. Globally, market cues were mixed as investors balanced expectations of U.S. policy easing against political uncertainty in France.
A leftist coalition in France emerged as the unexpected winner in the second and decisive round of legislative elections, thwarting the far-right party poised for victory. The result leaves France facing the possibility of a hung parliament, with no group achieving a clear majority.
On a positive note, investor confidence in a potential U.S. rate cut in September grew, following last week's softer-than-expected jobs data.
