The Sensex and Nifty snapped a three-day losing streak on Thursday, with the Sensex rising 138.38 points to close at 74,902.60 and the Nifty adding 46.80 points to settle at 23,477.80.
The recovery came in a volatile closing auction session, with both indices swinging before settling higher, even as crude oil remained above $100 a barrel.
The gains followed three consecutive sessions of losses driven largely by rising crude oil prices and escalating tensions in West Asia.
Market watchers described the move as a technical bounce rather than a decisive turnaround, given crude oil and geopolitical pressures remained unresolved.
Broader market indices, including mid-cap and small-cap benchmarks, had shown more resilience than the large-cap indices through the recent volatile stretch.
Wednesday’s session snapped a three-day losing streak for the Sensex and Nifty, which had fallen on each of the three preceding sessions amid crude oil price pressure.
The recovery came in a volatile closing auction session, with both benchmark indices swinging between gains and losses before settling higher.
Crude oil prices remained above $100 a barrel during the session, continuing to weigh on sentiment even as the indices posted a net gain.
West Asia tensions and their impact on oil supply have been a recurring driver of Indian market volatility through much of September.
Market participants described the session as a technical bounce after three consecutive days of losses, rather than a decisive shift in sentiment.
The BSE Sensex and NSE Nifty are the two primary benchmark indices tracking the overall health of the Indian stock market.
Foreign institutional investor flows and crude oil price movements remained the two factors analysts pointed to as most likely to determine the market’s next direction.
Broader mid-cap and small-cap indices have shown more resilience than the large-cap benchmarks through the recent volatile stretch.
Bombay Stock Exchange building, Mumbai, Wikimedia Commons, CC BY 2.0
