The Indian stock markets attempted a rebound on Thursday morning, after days of continuous bleeding across indices. The BSE Sensex opened trading near 79,500, jumping more than 350 points, and the NSE Nifty50 tested 24,600, rising over 100 points, around 9:17 AM.
This recovery came after a sharp sell-off in the previous session, with benchmark indices indicating gains in the pre-open session. Investors are attempting a cautious recovery even as global risk sentiment remains fragile due to escalating tensions in West Asia and volatile crude oil prices.
At around 9:07 AM in the pre-open session on Thursday, the Sensex was trading at 79,530, up 414 points, while the Nifty50 stood at 24,616, higher by 135 points, signalling a likely positive start to the trading day.
The tentative rebound comes after domestic equities witnessed steep declines on Wednesday, when geopolitical tensions and surging oil prices triggered broad-based selling across sectors.
Wednesday’s Sharp Sell-Off Drags Benchmarks Lower
Benchmark indices Sensex and Nifty ended more than 1 per cent lower on Wednesday, tracking weakness across Asian markets as the conflict in West Asia intensified and pushed crude oil prices higher.
The 30-share BSE Sensex plunged 1,122.66 points, or 1.40 per cent, to close at 79,116.19. During the session, the index had dropped as much as 1,795.65 points, or 2.23 per cent, touching an intraday low of 78,443.20 before trimming some losses in the latter half of trade.
The NSE Nifty declined 385.20 points, or 1.55 per cent, to settle at 24,480.50. The index also slipped to an intraday low of 24,305.40, down 560.30 points or 2.25 per cent, marking its lowest closing level in six months and extending its losing streak to three consecutive sessions.
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