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Indian Markets Rebound: Sensex, Nifty Up Despite High Crude Oil, Geopolitical Tensions
Late buying in HDFC Bank and Axis Bank lifted the benchmarks, even as Brent crude rose 1.19% and foreign investors sold Rs 582.99 crore.
Indian benchmark indices, Sensex and Nifty, rebounded on Thursday, breaking a three-day losing streak as late buying in key financial stocks offset elevated crude oil prices and geopolitical tensions.
Elevated crude oil prices, trading above $100 per barrel, and persistent geopolitical tensions dampened market sentiment throughout the day, creating headwinds that indices ultimately overcame.
Late buying in blue-chip stocks Axis Bank and HDFC Bank drove the 30-share BSE Sensex up 138.36 points, or 0.19 per cent, while the 50-share NSE Nifty rose 0.20 per cent.
Foreign Institutional Investors remained net sellers on Wednesday, offloading equities worth Rs 582.99 crore, signaling continued institutional caution despite the indices' gains.
In Asian markets, South Korea's Kospi, Shanghai's SSE Composite, and Hong Kong's Hang Seng index ended lower, while Japan's Nikkei 225 settled in positive territory.