Sensex recovers 450 pts from day’s low!

On Tuesday, Indian equity benchmarks recovered part of their early losses as bargain hunting emerged following a steep opening decline. The Sensex rebounded roughly 450 points from its intraday low of 84,382.96, while the Nifty rose above 25,900, though both indices remained in negative territory. Around 12:20 p.m., the Sensex was down 244.07 points, or 0.29%, at 84,858.62, and the Nifty was at 25,911.70, down 48.85 points, or 0.19%.

Among Nifty50 stocks, Titan Company, Shriram Finance, and ETERNAL led gains, climbing up to 2%, while Asian Paints and Mahindra & Mahindra lagged, dropping as much as 4%.

Key factors behind the recovery included a slight decline in Brent crude, which eased concerns over India’s import bill and inflation, supporting investor sentiment. Additionally, value buying at lower levels helped trim early losses, as the Sensex and Nifty had initially fallen 633.90 points and 211.25 points, respectively, with all 16 major sectoral indices in the red. Broader market indices also pared losses, with the Nifty Midcap100 and Smallcap100 recovering some ground after earlier sharp declines, reinforcing overall market sentiment and aiding frontline index recovery.