Indian stocks staged a smart rebound during the final hour of trade in Thursday's session, September 10, as buying emerged in select financial heavyweights, helping the headline indices snap their three-day losing streak.
Tracking weak global cues, Dalal Street began the session on a weak note, with both headline indices at one point breaking below the previous day's lows. However, they managed to recover all their losses and ended the session in positive territory, although they remained near three-month lows.
The Nifty 50 concluded the session with a gain of 0.20% at 23,477, while the S&P BSE Sensex rose 0.19% to 74,902. The broader markets, however, remained in the red, with the Nifty Midcap 100 and Nifty Smallcap 100 indices closing 0.38% and 0.07% lower, respectively.
Sectoral performance was mixed, with media, PSU banks, and private banks emerging as the top gainers, while metal, healthcare, pharma, auto, and IT stocks closed lower.
The escalating tensions in the Middle East have continued to weigh on market sentiment, keeping crude oil prices elevated and fuelling expectations of a rate hike by major global central banks.