New Delhi, June 24: Indian benchmark equity indices opened higher on Wednesday, rebounding after a sharp sell-off in the previous session as softer crude oil prices and buying in heavyweight stocks improved market sentiment.
The BSE Sensex rose 187.63 points in early trade to 76,388.31, while the NSE Nifty gained 57.75 points to reach 23,878.85.
The recovery came after both indices had witnessed a steep decline in the previous session, with investors reacting to global market weakness and uncertainty over geopolitical developments. Wednesday’s rebound was supported by a decline in global crude oil prices, which eased concerns over inflationary pressure and India’s import bill.
Among the top gainers in early trade were Tech Mahindra, ICICI Bank, Trent, Infosys, Tata Consultancy Services, and Kotak Mahindra Bank, all of which contributed to the market’s recovery. On the other hand, Maruti, Bharti Airtel, NTPC, and Tata Steel were among the notable laggards.
Market sentiment was also supported by foreign investor activity. According to exchange data, Foreign Institutional Investors (FIIs) were net buyers of Indian equities worth ₹17.86 crore in the previous session, indicating some stabilisation in overseas investment flows.
Meanwhile, Brent crude, the global oil benchmark, was trading more than 1% lower at $76.29 per barrel, a move that analysts said has eased some of the macroeconomic headwinds facing India. Softer oil prices are generally viewed as positive for the domestic market, particularly for an oil-importing economy like India.
Investors are also tracking developments on the trade front after indications that India and the United States may be nearing a major bilateral trade agreement, a development that could further support market sentiment if finalised.
In the broader Asian markets, trading was mixed, with some regional indices moving higher while others remained under pressure. U.S. markets had ended sharply lower overnight, adding to the volatility in global equities.
The rebound comes after Tuesday’s steep decline, when the Sensex fell by nearly 900 points and the Nifty dropped more than 278 points, reflecting nervousness across global and domestic markets. Analysts believe the direction of crude oil prices, foreign fund flows, and global economic signals will remain key drivers for Indian equities in the near term.
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