Indian shares rebound after SBI, Reliance buying curbs early slump

Benchmarks BSE Sensex and NSE Nifty reclaimed most of their early declines on Monday as buying in State Bank of India and Reliance Industries, together with fresh foreign fund inflows, steadied the market.

What Happened

The 30‑share BSE Sensex slipped 470.50 points to 74,318 and the 50‑share Nifty fell 147.10 points to 22,999.05 in early trade. Both indices later narrowed losses, with the Sensex ending 46.49 points lower at 74,682.78 and the Nifty down 14.55 points at 23,131.60. Axis Bank dropped over 4% despite reporting a 39.4% jump in Q2‑2026‑27 net profit to ₹7,704.67 crore. HDFC Bank, Infosys, Bajaj Finserv, Hindustan Unilever and Trent also lagged. Gains were led by State Bank of India, UltraTech Cement, Reliance Industries, Tata Consultancy Services, Adani Ports and HCL Tech. Foreign Institutional Investors turned buyers on Friday, purchasing equities worth ₹1,165.92 crore after several days of selling. Brent crude fell 1.90% to $107.8 a barrel. In Asian markets, South Korea’s Kospi and Shanghai’s SSE Composite rose, while Japan’s Nikkei 225 slipped. US indices closed lower on Friday, with the Nasdaq down 2.14%, the S&P 500 down 1.09% and the Dow Jones down 0.34%. On Friday the Sensex had risen 413.66 points (0.56%) to 74,729.27 and the Nifty up 148.80 points (0.65%) to 23,146.15.

Context

State Bank of India is the country’s largest lender, and Reliance Industries is a key conglomerate; their buying often lifts market sentiment. Foreign fund inflows are a common catalyst for short‑term market recoveries.