Mumbai, Nov. 9 -- The Nikkei 225 advanced 2.33% to close at 58,775 on Monday, recovering some of last week's losses as market sentiment improved. The rebound was led by financial and consumer-oriented stocks. Banking shares recorded strong gains, with Mizuho Financial rising 5.1%, Mitsubishi UFJ gaining 4.4% and Sumitomo Mitsui advancing 3.9%. Retail and automobile stocks also performed well, with Fast Retailing up 3.7%, Nintendo rising 5.2% and Toyota Motor gaining 4.6%.

The recovery followed a sharp decline of more than 9% last week, marking the Nikkei's steepest weekly fall since the COVID-19-induced market selloff in March 2020. The decline was triggered by the Democrats' sweeping victory in the US midterm elections, which raised con...