Nifty recovers 24000 mark, Sensex rises 400 points after sharp fall

Indian stock markets bounced back on Friday reversing a sharp correction from the previous day On Thursday both indices faced a steep decline of over 1 per cent driven by concerns over geopolitical tensions and uncertainty regarding future interest rate cuts by the US Federal ReserveHowever Friday saw the Nifty index regain the 24000 mark while the Sensex surged by more than 300 points reflecting positive sentiment in the market The Nifty 50 opened flat at 2392715 showing a gain of 13 points or 005 per cent while the BSE Sensex registered a marginal decline of 10 points or 001 per cent opening at 7903299Experts cited the ongoing geopolitical tensions and the unpredictability of the US Feds monetary policy as key factors influencing market movements Additionally the shifting dynamics in global trade which may undergo significant changes under a potential second term for former US President Donald Trump have added to the market uncertaintyThe market faced a 15 per cent decline in the previous session mainly due to concerns over global geopolitical developments and the Federal Reserves stance on interest rates The evolving trade dynamics are also contributing to a sense of unease with the prospect of a trade war that could adversely affect developing economies such as India said Varun Aggarwal MD of Profit Idea If the Nifty falls below 23870 there could be further downside potentially heading towards the 23500 markIndian stock markets bounced back on Friday reversing a sharp correction from the previous day On Thursday both indices faced a steep decline of over 1 per cent driven by concerns over geopolitical tensions and uncertainty regarding future interest rate cuts by the US Federal ReserveHowever Friday saw the Nifty index regain the 24000 mark while the Sensex surged by more than 300 points reflecting positive sentiment in the market The Nifty 50 opened flat at 2392715 showing a gain of 13 points or 005 per cent while the BSE Sensex registered a marginal decline of 10 points or 001 per cent opening at 7903299Experts cited the ongoing geopolitical tensions and the unpredictability of the US Feds monetary policy as key factors influencing market movements Additionally the shifting dynamics in global trade which may undergo significant changes under a potential second term for former US President Donald Trump have added to the market uncertaintyThe market faced a 15 per cent decline in the previous session mainly due to concerns over global geopolitical developments and the Federal Reserves stance on interest rates The evolving trade dynamics are also contributing to a sense of unease with the prospect of a trade war that could adversely affect developing economies such as India said Varun Aggarwal MD of Profit Idea If the Nifty falls below 23870 there could be further downside potentially heading towards the 23500 markAmong sectoral indices Nifty IT and Nifty Realty stood out as exceptions while the Nifty Media index saw a sharp recovery of 158 per cent suggesting a positive market sentiment in some sectorsIn terms of individual stocks top gainers on the Nifty 50 included HDFCLife SBILife Dr Reddy Adani Enterprises and Sun Pharma while Power Grid emerged as the top loser Adani group companies showed continued recovery with Adani Green shares surging by more than 7 per cent during the dayrsquos early hoursThe broader Asian market showed a mixed performance on Friday Japans Nikkei 225 index faced selling pressure dipping by 041 per cent while markets in South Korea and Indonesia saw a sharp correction of over 1 per cent On the other hand Hong Kongs Hang Seng and Chinas Shanghai Composite Index recorded marginal gainsAs per ANI domestic stock markets had experienced selling pressure the day before with both indices declining by over 1 per cent due to losses in technology stocks lack of significant global cues and weak performances across Asian marketsANI reports that the Indian stock marketrsquos recovery on Friday provides a ray of optimism though experts continue to monitor the ongoing risks related to global economic and political developmentsWith inputs from ANI