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Indices snap 7-day losing streak, Nifty regains 23,500; M&M climbs 3.5%
The domestic equity benchmarks staged a strong rebound on Tuesday, ending a seven-day losing streak. The Nifty 50 index closed above the 23,500 level, driven by buying interest in auto, realty, and media stocks. The recent sharp decline in the benchmarks had created oversold conditions, making them attractive to bargain hunters. Additionally, a slowdown in FII selling and consistent buying by domestic institutions further bolstered sentiment. Positive cues from other Asian markets also supported buying.
