Nifty, Sensex strong recovery to get 4 days lose points; Risks still
India’s benchmark stock indexes rebounded sharply to open in the green on Thursday, beginning a four-day losing streak and carrying momentum from an overnight global stock rally.
The Federal Reserve announced a 75 basis point rate hike, the biggest in more than a quarter of a century, to stem a spike in inflation and mark a slowing economy.
But markets have priced in that positive action that has raised risk assets and pushed the dollar off two-decade highs.
30 S&P BSE Sensex stocks opened with a gain of more than 500 points to about 53,116 points and the broader NSE Nifty gained nearly 1% to about 15,828 points.
Prashanth Tapse, Vice President of Research at Mehta Corporation.
He added: “Falling WTI crude oil prices could also boost sentiment, as the domestic stock market has been heavily impacted in the past few sessions by the FII (Foreign Institutional Investors) force. non-stop selling.
In an extremely volatile session on Wednesday, the benchmark equity indexes closed in the red, distinguishing between losses and gains, marking losses for four straight days.
Indeed, on Sensex closed 152.18 points or 0.29% lower at 52,541.39, compared with Tuesday’s close of 52,693.57. NSE Nifty closed at 15,692.15, 0.25% lower than Tuesday’s 15,741.95.