MUMBAI: Indian stock markets reversed their two-session downtrend on Monday as news that the United States and China are secretly negotiating lessened concerns of a trade war. The benchmark Sensex rose by over 470 points and the NSE Nifty by 133 points to close at 33,066.41 points and 10,130.65 respectively.
According to analysts, markets saw value-buying of shares in beaten-down counters like banks, financial services and metal.“Markets witnessed strong gains after a flat opening following positive cues from European and Asian peers signalling some ease in trade war. Investors are likely to remain cautious ahead of F&O expiry and limited trading days for the week, limiting potential upside,” Vinod Nair, Head of Research, Geojit Financial Services, said.