Stock Market Update: Sensex breaks 4-day losing streak, rises 724 points, Nifty breaches 18000

Stock Market Update: The four-day losing streak for Indian equity indexes came to an abrupt halt on Monday in a low-volume session as the market's appetite for risk-taking was dampened by concerns over China's ability to adjust after abandoning its Covid Zero policy.

Sensex and NSE Nifty50

The 30-share BSE Sensex index recovered from four days of losses and a worse beginning to conclude at 60566.42, up 721.13 points, or 1.2%, while the larger NSE Nifty-50 index gained 207.80 points, or 1.17 percent, to close at 18014.60.

Despite cautious trading and decreased liquidity due to numerous markets being closed for holidays, local stocks rose.

While global stock markets made small advances

The good impact of recent US inflation data was largely offset by concerns about China's capacity to adapt after abandoning its Covid Zero policy, even if the open stock markets throughout the world saw modest gains.
In the middle of a new wave of infections, China's National Health Commission stated it will stop supplying daily coronavirus case data, making it more challenging for investors to assess the virus's economic impact.

According to Prashanth Tapse, Senior Vice President for Research at Mehta Equities, "the undertone is expected to remain cautious."

US stocks and Federal Reserve

According to information released on Friday, consumer expenditure remained unchanged while the carefully watched inflation indicator used by the Federal Reserve decreased. Consumer expectations for inflation in the upcoming year dropped this month to its lowest level since June 2021, according to a University of Michigan survey.
The S&P 500 and the mainly tech-focused Nasdaq 100 both had weekly losses, even though US markets concluded the week on Friday with gains.

Stock Market Update: Performance of Global stocks

The overall performance of equities around the world in 2022 was the lowest it has been in more than ten years. After a two-year bull run that was powered by liquidity, global stocks encountered significant turning points in 2022 as Russia invaded Ukraine, the US Fed fought valiantly against inflation, and a catastrophe engulfed global financial markets.

The Sensex has yet outperformed its rivals in a difficult year, with domestic investors supporting the benchmark during this year's upheavals.

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