Indian stock markets showed resilience on Monday, recovering strongly from early losses to end just mildly lower by the closing bell.
The Sensex ended the day at 81,374, down by 77 points or 0.09 per cent. However, this marked a sharp rebound of 719 points from the day's low of 80,654.
Similarly, the Nifty closed at 24,717, slipping 34 points or 0.14 per cent, after recovering from its intra-day low of 24,526.
Investor sentiment was weak in the morning after US President Donald Trump announced higher tariffs on steel imports.
The proposed hike, from 25 per cent to 50 per cent, is expected to take effect from June 4.
On top of this, rising tensions between Russia and Ukraine, volatile foreign investment flows, and caution ahead of the Reserve Bank of India’s (RBI) policy decision all weighed on the market mood.