Live: Rupee hits new low amid Brent above $120; market breadth weakens | Closing Bell
Indian markets staged a sharp intraday comeback, with the BSE Sensex rebounding nearly 800 points from the day’s low and the Nifty 50 reclaiming the crucial 24,000 mark. The recovery was driven by a mix of global and domestic triggers that lifted investor sentiment.
A key factor was easing global pressure. Stability in US bond yields and a pause in the recent spike helped calm nerves, while softer crude oil prices reduced concerns around inflation and India’s import bill. This created room for equities to bounce back after early weakness.
On the domestic front, buying interest returned in heavyweight stocks, particularly in banking and financial names, which tend to drive index moves. Short covering also amplified the upmove, as traders rushed to close bearish positions after the market held important support levels.
