Indian Markets Rebound After Weak Start; Sensex Gains 317 Points, Nifty Ends Higher
Indian stock markets recovered after a weak opening amid US-Iran tensions, rising crude oil prices, and IT stock weakness. Sensex climbed 317 points while Nifty closed 117 points higher.
Prasanth Subramani
Despite a sluggish start triggered by US-Iran tensions, rising crude oil prices, and weakness in IT stocks, Indian benchmark indices recovered and ended the day on a positive note.
During the session, the Nifty rose 209.2 points to touch an intraday high of 25,663.55, while the Sensex climbed 0.76% to reach an intraday high of 83,132.08.
At the close, the 30-share Sensex gained 316.57 points to settle at 82,814.71, while the 50-share Nifty advanced 116.90 points to finish at 25,571.25.
On the NSE, out of 3,248 traded stocks, 1,520 advanced, 1,621 declined, and 107 remained unchanged.
On the Sensex, major gainers included NTPC, Larsen & Toubro, Hindustan Unilever, Power Grid, Tata Steel, Kotak Mahindra Bank, Bharat Electronics, Bajaj Finance, Titan, Maruti Suzuki India, Axis Bank, and IndiGo. Meanwhile, Tech Mahindra, Infosys, Eternal, HCL Technologies, Bharti Airtel, HDFC Bank, Mahindra & Mahindra, and Adani Ports ended lower.
Investor sentiment improved after India joined a key global supply chain initiative expected to strengthen trade partnerships and ensure the security of critical minerals, including those related to AI technologies.
Despite ongoing geopolitical tensions, banking and metal stocks supported the market recovery, while IT stocks lagged behind.
In Asian markets, Hong Kong’s Hang Seng fell 1.10% and Japan’s Nikkei 225 dropped 1.07%, while South Korea’s Kospi rose 2.31%. China’s main markets remained closed due to the Lunar New Year holiday.
European markets, including Germany’s DAX, France’s CAC 40, and the UK’s FTSE 100, gained around 1%, while US markets closed lower in the previous session.
According to exchange data, foreign institutional investors sold shares worth ₹880.49 crore, while domestic institutional investors also sold shares worth ₹596.28 crore.
Global Brent crude oil prices declined 0.31% to $71.44 per barrel.
