Sensex Rebounds 315 Points and Nifty Closes Above 23,140 on Value Buying

Indian equity benchmarks rebounded on Friday after sharp losses in the previous session dragged the market to multi-month lows. Bargain hunting in banking, automotive, and select consumer-facing stocks helped indices recover lost ground, though upside remained measured amid persistent foreign portfolio outflows and elevated global bond yields.

The 30-share BSE Sensex climbed 315.20 points, or 0.43 per cent, to end the trading session at 73,895.74. During the day, the index swung 490.28 points between an intraday low of 73,477.77 and a high of 73,968.05. Out of the 30 Sensex components, 19 finished in positive territory while 11 closed lower.

The broader 50-share NSE Nifty advanced 77.40 points, or 0.34 per cent, to settle at 23,140.50, with 34 constituent stocks advancing, 15 retreating, and one remaining unchanged.

Top Gainers and Laggards

Among the BSE Sensex pack, banking and automotive heavyweights spearheaded the recovery:

• Axis Bank led the gainers, advancing 2.82 per cent.
• Mahindra & Mahindra surged 2.24 per cent.
• Asian Paints gained 1.93 per cent.
• Bajaj Finance climbed 1.21 per cent.
• HCL Tech and Titan rose 1.17 per cent and 1.01 per cent, respectively.

On the flip side, Trent emerged as the biggest drag on the index, falling 1.41 per cent. Infosys, Kotak Mahindra Bank, ICICI Bank, and Tata Steel also ended in the red.

Sectoral Performance and Macro Factors

On the sectoral front, automobile, FMCG, and private banking indices traded with a positive bias. The Nifty Auto index advanced 0.84 per cent, Nifty Metal rose 0.28 per cent, and Nifty FMCG gained 0.26 per cent. In contrast, Nifty IT shed 0.28 per cent, and Nifty Media dipped 0.23 per cent.

Macro indicators provided slight relief during Friday's session. Brent crude, the international benchmark, cooled by 1.10 per cent to trade near USD 105.4 per barrel, easing immediate cost pressures for Indian refiners and import-dependent industries. In the currency markets, the Indian rupee gained 14 paise to close at 95.85 against the US dollar, aided by local equity strength.

Market Analysts on the Outlook

Market participants noted that the rebound reflected selective bargain hunting rather than a broad-based shift in risk appetite.

Vinod Nair, Head of Research at Geojit Investments Limited, stated: "Selective bargain hunting after the recent pullback helped the market retain a positive bias, though gains remained confined to a narrow trading range. The ability of benchmark indices to sustain above the psychologically important 23,000 level reflects domestic resilience and support from strong domestic liquidity."

Ajit Mishra, SVP – Research at Religare Broking, observed: "Markets witnessed a volatile session on Friday and ended with modest gains, recovering partially from the sharp sell-off seen in the previous session. The recovery remained measured as investors continued to monitor elevated global yields, crude oil prices and persistent foreign selling."

Vikram Kasat, Chief Business Officer – Advisory and Dealing at PL Capital, pointed out that the rebound was driven primarily by easing crude prices and selective buying. He added that sustainable market stabilization will depend heavily on cooling international yields, stable energy prices, and moderation in foreign institutional selling.

Tags: BSE Sensex NSE Nifty 50 Axis Bank Mahindra and Mahindra Geojit Investments Religare Broking