IT-led buying helps Sensex rebound 1,700 pts from day’s low; Nifty ends above 22,700

Benchmark indices staged a sharp intraday recovery on Thursday, with IT stocks leading the rebound, helping the market claw back steep early losses triggered by geopolitical concerns.

The S&P BSE Sensex ended 185.23 points, or 0.25%, higher at 73,319.55, while the NSE Nifty 50 gained 33.70 points, or 0.15%, to settle at 22,713.10.

Markets witnessed extreme volatility during the session, with the Sensex rebounding nearly 1,750 points from its intraday low of 71,545.81, while the Nifty recovered from a low of 22,182.55 to reclaim the psychologically important 22,700 level.

Early selloff on geopolitical jitters

Indices had opened sharply lower and extended losses in early trade, with the Sensex plunging over 1,500 points at one stage after comments from US President Donald Trump dampened hopes of near-term clarity on the duration of the ongoing West Asia conflict.

The sharp fall reflected heightened global uncertainty and concerns over crude oil prices, which have remained volatile amid the geopolitical tensions.

Value buying triggers strong rebound

However, markets witnessed a strong turnaround in the second half of the session, aided by value buying at lower levels and short-covering in oversold stocks.

A strengthening rupee also supported sentiment, as investors stepped in to accumulate quality stocks following the recent correction.

Market breadth remained positive, with 2,548 shares advancing compared to 1,505 declines, indicating broad-based participation in the recovery.

IT stocks lead the rally

The rebound was led by IT and select consumption names.

Among top gainers were HCL Technologies , Tech Mahindra , Wipro , Infosys , and Tata Consultancy Services , along with Tata Consumer Products and Hindalco Industries .

On the downside, Asian Paints , Eicher Motors , Sun Pharmaceutical Industries , Bajaj Auto , NTPC , and Grasim Industries ended lower.

Analysts said the sharp intraday swing highlights the fragile market environment, with sentiment continuing to be driven by global cues, particularly developments in West Asia and movements in crude oil prices.