Market snaps 3 day losing streak, Nifty at 23,409, Sensex up 939 pts

The Indian share market traded positive on Monday with Nifty above 23400,led by gains in auto, banking and FMCG stocks.At close, the Sensex was up 938.93 points or 1.26 percent at 75,502.85, and the Nifty was up 257.70 points or 1.11 percent at 23,408.80.
M&M, Grasim Industries, Trent, UltraTech Cement, HDFC Bank were the top gainers on the Nifty, while losers included Bharat Electronics, Wipro, Max Healthcare, Sun Pharma, Coal India.On the sectoral front, auto, bank, FMCG, metal up 0.3-1%, while media, oil & gas, pharma, realty, capital goods down 0.5-2.7%. Nifty Midcap index down 0.3%, while smallcap index down 0.5%.
Rupee Close:
On 16 Mar'26,the Indian stayed weak and settled 13 paise lower to close at 92.42 against the US dollar on Monday, weighed down by massive withdrawal of foreign funds and surging crude oil prices amid geopolitical uncertainties.Volatile sentiment in domestic equity markets further dragged the currency down even as the greenback retreated from higher levels, according to forex traders.
Trading Guide:
Vinod Nair, Head of Research, Geojit Investments stated,the equity market staged a late-session rebound, supported by value buying in domestically oriented sectors such as auto, banking, and FMCG, a relief rally following the recent sell-off. Near-term challenges persist, valuations have moderated, narrowing the premium valuation gap across several key sectors. In the near term, investor sentiment will hinge on developments in the Strait of Hormuz, where any easing of supply chain disruptions could provide further support. However, persistently elevated oil prices continue to weigh on broader market direction.Globally, attention remains focused on the upcoming U.S. Fed policy outcome. Rates are widely expected to remain unchanged, reflecting ongoing inflationary pressures and heightened geopolitical uncertainty.
Market experts recommended five shares to buy on Monday-Lumax AutoTechnologies, Thermax Limited, Star Health and Allied Insurance Company, MedPlus Health Services, and Alivus Life Sciences.

(Business Correspondent)