Markets Recover After Heavy Losses

After witnessing heavy losses for two consecutive sessions, Indian stock markets ended Wednesday with marginal gains. The benchmark indices opened in the red but recovered during the second half of the trading session. Investors showed buying interest at lower levels, which supported the market recovery. Rising global copper prices also boosted metal stocks significantly.

Compared to the previous closing level, the Sensex opened nearly 100 points lower and slipped further during early trade. However, the market recovered strongly in the afternoon session. At one stage, the Sensex rebounded nearly 1,000 points from the intraday low before finally closing 49 points higher at 74,608. Similarly, the Nifty gained 33 points to settle at 23,412.

Metal sector stocks posted strong gains, while several finance and power sector shares ended in losses. Bank Nifty closed 99 points lower, whereas the Nifty Midcap Index gained 460 points. Meanwhile, the Indian rupee stood at 95.70 against the US dollar. Market experts believe cautious sentiment continues, but buying support at lower levels helped the indices recover from early losses.