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Indian Markets Stage Fierce Comeback Amid Volatility
8 Apr
Summary
- Sensex and Nifty recovered strongly from intraday lows.
- IT stocks were major gainers, boosting market sentiment.
- Easing crude oil prices and upbeat global cues aided recovery.
Benchmark equity indices Sensex and Nifty concluded Tuesday's trading session with notable gains following a substantial intraday recovery. The session was characterized by high volatility, with the Sensex fluctuating over 1,400 points before settling higher. Initial market weakness reversed as investor sentiment was bolstered by declining global crude oil prices and positive performance in Asian, European, and US markets.
The information technology sector was the standout performer, with IT indices surging. This sector acted as a defensive anchor for the market. Other sectors like realty, metal, and FMCG also registered gains. However, broader market breadth remained cautious, with some sectors ending in the red.
Analysts noted a behavioral shift among investors, who are now pricing in developments rather than reacting solely to headline news. This resilience was observed even as geopolitical tensions continued. Foreign Institutional Investors were net sellers, while Domestic Institutional Investors were net buyers on the preceding day.
