Indian equity markets opened higher on March 20, with the Sensex rising over 900 points and Nifty50 crossing 23,200, recovering from Thursday’s sharp selloff as easing oil prices and hopes of geopolitical de-escalation lifted sentiment.
The Nifty50 opened above the 23,200 mark
New Delhi: Indian stock markets opened in the green on Friday, as bears took a breather after the massive selloff seen yesterday. The Nifty50 opened above the 23,200 mark, while Sensex rose more than 900 points in the morning, as easing oil prices and other factors pushed markets up.
The rebound comes a day after markets witnessed a sharp selloff, with indices dropping more than 3% amid rising global concerns. The previous decline wiped out gains accumulated earlier in the week, highlighting the volatile nature of current market conditions.
Stock market opens higher on global cues; All eyes on US Fed
Investor sentiment improved following indications of possible de-escalation in tensions in West Asia. Cooling crude oil prices also contributed to the positive momentum, with Brent crude easing after recent spikes.
Market experts believe that easing concerns over disruptions to oil and gas infrastructure have reduced immediate risks, supporting a short-term recovery in equities.
Beaten-down sectors such as financials and automobiles showed signs of recovery in early trade. Analysts noted that the previous session’s decline in banking stocks, partly influenced by stock-specific factors, may stabilise in the near term.
Despite the rebound, experts caution that markets may continue to fluctuate between optimism and uncertainty in the coming days.
Stock Market Opens Strong: Sensex jumps 600 points, Nifty crosses 23,500
Asian markets traded higher, tracking a recovery in US equities from intraday lows, although Wall Street ended lower in the previous session due to inflation concerns linked to rising oil prices.
Foreign portfolio investors remained net sellers, offloading equities worth ₹7,558 crore on Thursday. However, domestic institutional investors provided support with net purchases of ₹3,864 crore.
Market participants are expected to closely monitor global developments, particularly geopolitical tensions and crude oil movements. While the current rebound offers some relief, analysts warn that volatility is likely to persist in the near term.
