Investors’ Wealth Rises by Rs. 3.67 Lakh Crore as Markets Rebound

NEW DELHI, October 26(HS): Indian equity markets staged a strong recovery on Monday, ending higher after four consecutive sessions of losses. Supported by value buying at lower levels and a decline in international crude oil prices, the markets recovered from sharp early losses to close firmly in positive territory.

The benchmarks opened lower amid weak global cues, but aggressive buying at lower levels helped them overcome the initial setback. The upward momentum continued through much of the second half of the session, with the Sensex closing 0.66 per cent higher and the Nifty gaining 0.68 per cent. The sharp rebound added more than Rs. 3.67 lakh crore to investors’ wealth during the day.

The BSE Sensex opened at 72,990.04, down 133.79 points, or 0.18 per cent. Selling pressure intensified shortly after the opening, dragging the index down by 609.26 points, or 0.83 per cent, to its intraday low of 72,514.57.

Buying interest subsequently emerged at lower levels, helping the benchmark recover steadily. Sustained purchases by institutional investors and retail participants enabled the Sensex to move into positive territory within the first hour of trading.

Buying remained the dominant trend for most of the session. Although bears made intermittent attempts to exert selling pressure, they failed to reverse the market’s upward trajectory. Strong buying towards the close lifted the Sensex by approximately 1,092.18 points from its intraday low. The index eventually settled at 73,606.75, gaining 482.92 points, or 0.66 per cent.

The NSE Nifty followed a similar trajectory. It began the session at 22,524.40, down 75.60 points, or 0.33 per cent. Selling pressure after the opening pushed the index down by 212.65 points, or 0.94 per cent, to an intraday low of 22,387.35.

Short-covering and value buying subsequently triggered a sustained recovery. The Nifty crossed the psychologically significant 22,600 mark within the first hour of trading and moved above the 22,700 level at around 2 p.m.

Supported by continued buying, the index climbed more than 365 points from its intraday low before closing at 22,753.20, up 153.20 points, or 0.68 per cent.

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Hindusthan Samachar / Jun Sarkar