Markets climb after 8-day decline, financials lead recovery

Indian equities snapped an eight-day decline on Monday, finishing marginally higher after a volatile session, as strength in pharma, metal, and financial stocks lifted Nifty to around 22,950.At close, the Sensex was up 57.65 points or 0.08 percent at 75,996.86, and the Nifty was up 30.25 points or 0.13 percent at 22,959.50.
Bajaj Finserv, Adani Enterprises, Power Grid Corp, IndusInd Bank and Shriram Finance were the top gainers on the Nifty, while losers included M&M, Bharti Airtel, Wipro, TCS, Infosys.On the sectoral front, auto, IT, telecom, media shed 0.5-1 percent, while pharma, PSU Bank, energy, consumer durables, metal indices rose 0.5-1 percent. Broader indices performance remained mix as BSE Midcap index ended 0.5 percent higher, while the smallcap index was down 0.6 percent.
Rupee Close:
On 17 Feb'25,the Indian rupee depreciated 16 paise to close at 86.87  against the U.S. dollar on Monday,weighed down by significant foreign fund outflows and a recovery in the U.S. dollar index from intraday lows.Forex traders reportedly stated the Indian rupee is trading with a negative bias as foreign banks went on a dollar-buying spree and importers scrambled to secure dollars, as they feared further depreciation amid global uncertainty.
Trading Guide: 
Vinod Nair, Head of Research, Geojit Financial Services reportedly quoted as saying,modest earnings growth in Q3 FY25, coupled with sustained selling by FIIs, is limiting the potential for a near-term market rebound. A weakening rupee and a widening trade deficit are likely to heighten investor caution.Despite a nosedive correction in broader indices, valuations remain unappealing. However, any easing of US trade uncertainties and initial signs of a recovery in discretionary spending could help support a market rebound.
Market experts have recommended five shares to buy—Norben Tea and Exports, N K Industries, Raj Rayon Industries, Central Bank of India, and Vintage Coffee and Beverages.

(Business Correspondent)