Mumbai, Aug. 11 -- The domestic benchmark indices bounced back sharply on Monday, snapping a six-week losing streak as the Sensex and Nifty surged higher. Bargain hunters stepped in after the prolonged decline, though the advance was capped by persistent caution over the risk of US tariffs on Indian goods.

Small- and mid-cap counters joined the uptrend, adding muscle to the market's recovery. The Nifty, which opened at 24,371.50 and briefly dipped to 24,347.45, went on to scale an intraday high of 24,600.85 before closing just shy of the peak.

Public sector banks and healthcare stocks led the charge, providing vital lift to the day's gains. Attention now shifts to a slew of economic data due later this week, including wholesale and cons...