The Sensex and Nifty rebounded on Thursday after a three-day slide, with the Sensex closing 138.38 points higher at 74,902.60.
The Nifty added 46.80 points to finish at 23,477.80, with both benchmarks recovering late in a volatile closing auction session.
Crude oil prices stayed above $100 a barrel through the session, continuing to be the key factor cited for recent market pressure.
Market watchers described the gains as a technical bounce, cautioning that the underlying crude oil and West Asia tensions had not eased.
Broader mid-cap and small-cap indices had held up better than large-cap benchmarks 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.
Indian equity markets have been closely tracking global cues, including US interest rate expectations and Gulf region developments, through September.
Bombay Stock Exchange building, Mumbai, Wikimedia Commons, CC BY 2.0
