Sensex Recovers 300 Points from Day's Low, Nifty Above 23,900: Factors Behind Market's Losses Parried

Indian Stock Market Shows Signs of Recovery

The benchmark indices Sensex and Nifty trimmed their losses in afternoon trade on Friday, thanks to value buying in select sectors and some easing of geopolitical concerns.

The Sensex recovered over 300 points from the day's low, while the broader Nifty moved above the 23,900 mark. By 3 pm, the Sensex was trading at 76,746.97, down 917.03 points or 1.18 percent. The Nifty stood at 23,921.85, lower by 251.20 points or 1.04 percent.

The market witnessed significant fluctuations throughout the session. Earlier, the Sensex had dropped 1,260.13 points or 1.6 percent to 76,403.87, while the Nifty declined 359.4 points or 1.4 percent to 23,813.65.

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Value buying was seen in metal and PSU bank stocks, as investors stepped in to pick shares at lower levels following the initial decline. This buying activity likely contributed to the market's recovery.

Hopes of easing geopolitical concerns also provided some support to the market. Iran's Foreign Minister Abbas Araghchi held a telephonic conversation with the Pakistani leadership on regional issues and ceasefire. Araghchi also spoke with Pakistan Army Chief Field Marshal Asim Munir, according to an Iranian news agency.

| Comparison of Market Losses | | --- | --- | | Sensex Loss | 1,260.13 points (1.6%) | | Nifty Loss | 359.4 points (1.4%) | | Sensex Recovery | 300 points | | Nifty Recovery | above 23,900 mark |