Sensex Rises 315 Points, Nifty Ends Above 23,100; Markets Log Seventh Weekly Loss
What Happened
Indian benchmark indices closed higher after Thursday’s sharp sell-off. The Sensex gained 315 points (0.43%) to 73,895.74, while the Nifty rose 77 points (0.34%) to 23,140.50. Gains were led by Axis Bank (+2.8%), Mahindra & Mahindra (+1.7%), and Asian Paints (+1.6%), while Infosys (-1.7%) and Tata Motors (-1.7%) were among the top losers. Sectorally, realty and auto indices advanced, while IT and pharma declined. Despite the rebound, both indices recorded their seventh consecutive weekly loss, the longest streak since 2020, pressured by high crude prices near 105.5/𝑏𝑎𝑟𝑟𝑒𝑙, 𝑒𝑙𝑒𝑣𝑎𝑡𝑒𝑑 𝑈𝑆 𝑏𝑜𝑛𝑑 𝑦𝑖𝑒𝑙𝑑𝑠 a𝑏ove 5, supported by RBI intervention. The government also reported ₹36,754 crore disbursed under PLI schemes till June 30, highlighting continued manufacturing support.
Key Takeaways
The rebound reflects domestic resilience and selective buying, but global risks from crude prices, elevated US yields, and FII selling continue to weigh on sentiment, keeping volatility high.