By The Sensex gained 138.38 points to close at 74,902.60 on Thursday, as the Nifty ended a three-day losing run with a 46.80-point gain to 23,477.80.
Both indices staged a late recovery in a volatile closing auction session, even with crude oil holding above $100 a barrel.
The preceding three sessions had seen consistent declines, largely attributed to rising crude oil prices and West Asia tensions.
Analysts flagged the rebound as technical in nature, with the underlying pressures from oil and geopolitics still in play.
Mid-cap and small-cap indices continued to show more resilience than large-cap benchmarks through the volatile stretch.
West Asia tensions and their impact on oil supply have been a recurring driver of Indian market volatility through much of September.
Market participants described the session as a technical bounce after three consecutive days of losses, rather than a decisive shift in sentiment.
The BSE Sensex and NSE Nifty are the two primary benchmark indices tracking the overall health of the Indian stock market.
Foreign institutional investor flows and crude oil price movements remained the two factors analysts pointed to as most likely to determine the market’s next direction.
Broader mid-cap and small-cap indices have shown more resilience than the large-cap benchmarks through the recent volatile stretch.
Indian equity markets have been closely tracking global cues, including US interest rate expectations and Gulf region developments, through September.
Wednesday’s session snapped a three-day losing streak for the Sensex and Nifty, which had fallen on each of the three preceding sessions amid crude oil price pressure.
The recovery came in a volatile closing auction session, with both benchmark indices swinging between gains and losses before settling higher.
Crude oil prices remained above $100 a barrel during the session, continuing to weigh on sentiment even as the indices posted a net gain.
Bombay Stock Exchange building, Mumbai, Wikimedia Commons, CC BY 2.0
