Indian benchmark indices recovered on Friday after the previous session’s sharp sell-off, with the Sensex gaining 315.20 points and the Nifty 50 rising 77.40 points as selective buying emerged in key sectors.
The 30-share BSE Sensex provisionally closed at 73,895.74, up 315.20 points or 0.43 per cent, while the NSE Nifty 50 settled at 23,140.50, gaining 77.40 points or 0.34 per cent.
The recovery came a day after the Sensex plunged 1,247.71 points and the Nifty dropped 383.70 points amid concerns over elevated crude prices and rising US bond yields. On Friday, investors turned to value buying in select blue-chip stocks, helping the benchmarks regain some of the lost ground.
Consumer durables, realty and automobile stocks witnessed buying interest, while media, information technology and pharmaceutical shares remained under pressure. Market breadth was positive, with 2,264 stocks advancing against 2,068 declines on the BSE.
Brent crude for November delivery declined $1.22, or 1.14 per cent, to $105.38 a barrel, offering some relief after oil prices had surged sharply in the previous session. The Indian rupee also edged higher against the US dollar during the session.
Despite Friday’s recovery, global market conditions remained a key concern for investors, with elevated US Treasury yields and geopolitical uncertainty continuing to influence sentiment.
The broader market, however, did not fully participate in the recovery, with the BSE 150 MidCap index declining 0.25 per cent and the BSE 250 SmallCap index slipping 0.01 per cent.
