Sensex Recovers From 700-Point Fall, Nifty Extends Gains Despite Oil Price Surge

Indian benchmark indices Sensex and Nifty ended almost unchanged on Monday after a volatile trading session, as a sharp rise in crude oil prices and escalating tensions in West Asia kept investors on edge.

The BSE Sensex closed at 77,616.40 , up 47.01 points (0.06%), while the NSE Nifty 50 edged higher by 4.10 points (0.02%) to finish at 24,211 , marking its third consecutive session of gains .

Trading began on a weak note, with the Sensex plunging nearly 712 points during the morning amid concerns over continued hostilities involving the United States and Iran . Fears that disruptions in the Strait of Hormuz could affect global oil supplies pushed Brent crude up about 2.6% to USD 77.96 per barrel , dampening risk appetite across markets.

However, a strong rebound in technology stocks helped the indices recover most of the losses by the close. Tata Consultancy Services (TCS) emerged as the top gainer, soaring 5.43% , followed by HCL Tech , Tech Mahindra , and Infosys . Gains in NTPC and Kotak Mahindra Bank also provided support.

On the other hand, Tata Steel , InterGlobe Aviation , Maruti Suzuki , UltraTech Cement , Bharat Electronics , and Eternal ended in the red.

Market experts said investors largely adopted a cautious, wait-and-watch approach as geopolitical uncertainties and rising energy prices clouded the near-term outlook. Despite the pressure, buying in IT, financial, and consumer-focused stocks prevented a deeper correction and helped the market end the day on a stable footing.

Foreign institutional investors remained supportive, purchasing equities worth Rs 2,603.72 crore in the previous session.