Slug: Stock-Markets-Comeback
Mumbai:
Indian stock markets staged a strong recovery, with the BSE Sensex rising 185.23 points to close at 73,319.55, and the NSE Nifty settling above 22,700 at 22,782.30, reversing sharp early losses. The rebound was driven by value buying in IT and banking shares and a sharp rupee recovery following Reserve Bank interventions.
The Sensex fell over 1,588 points to hit a day’s low of 71,545.81 but rebounded more than 2,000 points, aided by gains in HCL Technologies, TCS, HDFC Bank, and ICICI Bank. Nifty also recovered from a 496-point fall to finish in positive territory.
The rupee strengthened by over 150 paise after RBI measures restricted banks’ net open positions and barred corporates from non-deliverable forward contracts, improving investor sentiment. Bargain hunting in IT stocks further supported the rally.
Major Sensex gainers included Infosys, Bajaj Finance, Maruti Suzuki, Axis Bank, and ITC, while laggards were Asian Paints, Reliance Industries, Tata Steel, and UltraTech Cement.
Global cues were mixed: crude oil surged over 7% after US President Donald Trump’s statement on Iran, Asian markets closed mostly lower, and European indices traded down. FIIs offloaded Rs 8,331.15 crore in equities, partially offset by DIIs buying Rs 7,171.80 crore.
Market experts noted that the recovery underscores resilience in Indian equities amid geopolitical uncertainty, with domestic support and regulatory measures stabilizing investor confidence.
