After a turbulent start driven by geopolitical tensions and firm crude oil prices, Indian equity markets staged a strong recovery. The BSE Sensex closed up 509.7 points at 74,616, while the Nifty 50 ended 155.4 points higher at 23,123.65, marking the fourth consecutive session of gains. Both indices had plunged early in the day, with the Sensex touching an intraday low of 73,282 and Nifty dipping below 22,750, before recovering in late trade.
Markets opened lower as concerns over US–Iran tensions and elevated crude oil prices above $110 per barrel triggered risk-off sentiment. Profit-booking and selective selling in heavyweights weighed on the early session. However, a strengthening rupee, technical support at key levels, and optimism ahead of upcoming quarterly earnings fueled a turnaround.
Sectoral trends were mixed. The IT, metals, and realty sectors led the rally, posting gains of 1–3%, while PSU banks and consumer durables lagged. Broad buying in large-cap technology and metal stocks helped the benchmarks recover from early losses, with midcap stocks showing moderate gains and smallcaps ending mostly flat.
Among gainers, HCL Technologies led IT strength, rising about 4% from day’s lows. Tata Consultancy Services and Infosys jumped over 3%, while Bajaj Finserv, Bharti Airtel, and metals like Tata Steel and NTPC rose 2–3%, benefiting from strong sectoral buying.
On the losers side, Jubilant Foodworks fell more than 10% despite positive revenue growth due to profit-booking. Sun Pharma, Voltas, and several consumer durables counters saw weakness, while PSU banks underperformed, keeping overall market breadth cautious.
Market participants noted that while the session began with heightened volatility due to crude and geopolitical pressures, selective accumulation in large-cap stocks, optimism around corporate earnings, and technical support near key levels enabled a strong intraday recovery. Investors are keeping a close watch on macroeconomic cues, upcoming RBI policy announcements, and quarterly earnings to gauge near-term market direction.