The market remained under pressure for most of the regular trading session, but strong buying during the closing auction helped both benchmark indices move into positive territory. At 3:15 pm, the Sensex was down 134.73 points and the Nifty was lower by 42.25 points.
Banking stocks provided some support. HDFC Bank gained 0.98%, while Axis Bank rose 0.61% during Thursday session. Power Grid was the strongest major gainer, advancing 1.82%, while Tech Mahindra and Bharti Airtel also closed higher.
However, the recovery remained cautious. Rising crude oil prices, with Brent moving above $102 a barrel, and continuing Middle East tensions kept investors worried about inflation and economic growth. Foreign institutional investors also remained sellers, while domestic institutions provided buying support. The late session volatility was particularly notable because of the closing auction and derivatives expiry. Despite the recovery, analysts continued to warn that the market could remain under pressure if oil prices and global geopolitical risks stay elevated.
