India’s benchmark index Nifty rebounded on Monday after its longest weekly losing streak in 25 years, but the advance offered little clarity on whether the market has found a floor or merely entered a temporary relief rally.
The Nifty rose around 0.6% on Monday, while the Sensex ended with a gain of 473 points. The rebound came after the Nifty ended lower for eight straight weeks, with the index losing about 8.7% since the decline began on August 16.
