(Reuters) -India’s equity benchmarks opened higher on Monday, following five straight weeks of losses as investors assess U.S. tariffs and the Federal Reserve’s future policy action after weak U.S. labour market data.
The Nifty 50 rose 0.3% to 24,637.45 points and the BSE Sensex gained 0.27% to 80,800.42 as of 9:20 a.m. IST.
Thirteen of the 16 major sectors advanced, but gains were marginal. The broader small-caps and mid-caps traded flat.
The Nifty and Sensex indexes fell about 1.1% last week, marking their fifth straight week of losses as the U.S. hit several trading partners with steep tariffs and imposed a 25% duty on India, stoking global growth worries.
Meanwhile, data showed U.S. employment growth was weaker than expected in July and the count for the prior two months was revised down significantly, increasing the probability of a Fed rate cut in September.
(Reporting by Vivek Kumar M and Bharath Rajeswaran; Editing by Sumana Nandy and Ronojoy Mazumdar)
