Indian shares advance on bargain buying after recent slide

Indian equities edged higher on Monday, according to Business Recorder, as bargain buying followed several weeks of losses. On the benchmark side, the Sensex advanced 0.76% to reach 74,858.99, while the Nifty 50 was up 0.29% at 23,414.30. Both benchmarks had dropped for six consecutive weeks, a losing run not seen in six years, and high oil costs plus busy primary market activity held back the advance.

Geopolitical tension stayed in focus, with US President Donald Trump warning Tehran of economic collapse or a change in leadership unless it strikes a deal. Iran's military responded by promising a severe reaction to any fresh attack. Oil fell to an 11-day low as traders hoped a UN gathering this week might bring diplomatic advances, although a partial rebound in Saudi shipments eased worries caused by ongoing Houthi strikes.

Stock-specific news also featured. Welspun Corp gained 3.9% after its unit, East Pipes Integrated Company, secured an order from Saudi Aramco worth about $209 million, while HDFC Bank, ICICI Bank and Reliance Industries rose about 1.2%, 0.5% and 1.7% respectively. Meanwhile the National Stock Exchange's $2.3 billion IPO, which was fully subscribed on Friday, closes later on Monday.