Sensex, Nifty Recover as Indian Stocks Rebound After Sharp Sell Off
Benchmark indices gained on September 16 after heavy losses in the previous session, while investors continued to monitor crude prices, global yields and the US Federal Reserve's policy decision.
Mumbai, Sep 16: Indian equity markets recovered on Wednesday after a sharp decline in the previous session, with the Sensex and Nifty gaining as investors returned to select stocks.
The Sensex rose around 425 points, or 0.57%, to 74,428.77, while the Nifty 50 advanced about 0.60% to 23,256.85 during Wednesday’s trading.
The rebound followed Tuesday’s steep sell-off, when the Sensex fell nearly 778 points amid concerns over higher crude oil prices, rising US Treasury yields and pressure on the Indian rupee.
Investors remained focused on developments in global financial markets as the US Federal Reserve’s September policy meeting entered its final stage. Rising bond yields and persistent inflation concerns have increased uncertainty over the direction of interest rates.
Energy prices also remained an important factor for Indian markets. Brent crude had moved above $100 a barrel, raising concerns over its potential impact on inflation, import costs and corporate margins.
Despite Wednesday’s recovery, market sentiment remained sensitive to global developments, foreign fund flows and movements in crude oil and currency markets.
