Indian shares snap losing streak as US envoy’s remarks soothe tariff woes

Indian share benchmarks snapped a five-session-long losing streak on Monday after a U.S. envoy said that New Delhi and Washington will discuss trade issues in a call scheduled for a day later.

Nifty 50 rose 0.42% to 25,790.25, while the Sensex added 0.36% to 83,878.17 at the end of trade.

The indexes slipped as much as 0.8% earlier in the session after falling about 2.5% last week in their worst week in more than three months.

The comments by Washington’s newly-appointed ambassador to New Delhi, Sergio Gor, have come after a week that saw differing accounts from the two sides on why the trade pact stalled last year. U.S. levies tariffs of up to 50% on Indian goods, and President Donald Trump has warned tariffs could rise further.

“It needs to be seen if the recovery sustains. The correction last week from near record highs was surprising as it contradicted decent business updates from companies,” said Dharmesh Kant, head of equity research at Cholamandalam Securities.

On the day, 11 of the 16 major sectors rose. Smallcaps and midcaps declined 0.5% and 0.1%, respectively.

High-weight financials led the market recovery, rising 0.5%. They were down 0.45% before the U.S. ambassador’s comments.

Shares of Reliance Industries rose 0.5%, after slipping 1.65% earlier in the day. The stock dropped 7.4% last week after the conglomerate said it does not expect Russian oil shipments this month.

Tejas Networks slid 9.5% after reporting a quarterly loss, while SignatureGlobal dropped 5.2% after warning that it may miss pre-sales target for fiscal year 2026.

Investors await India’s inflation data, scheduled for release later in the day, for further economic cues, and will react to quarterly earnings from IT majors Tata Consultancy Services and HCL Technologies.