Indian benchmark indices recovered part of their early losses on Tuesday as value buying at lower levels and easing volatility helped the market pare its decline.
The Sensex recovered more than 400 points from the day’s low, while the Nifty moved back above the 22,650 level during morning trade. At 11:31 am, the Sensex was down 198 points at 72,574, while the Nifty was lower by 55 points at 22,725.
Value Buying Supports Recovery
After Monday’s sharp sell-off, investors stepped in at lower levels, particularly as several market indicators moved into oversold territory.
The recovery remained limited, however, with more than 2,100 stocks still declining against around 1,600 advancing at the time of the Moneycontrol report.
India VIX Eases
The India VIX, a measure of expected market volatility, declined from 14.77 to 14.04 during the session.
The fall indicated some moderation in market nervousness after the previous day’s broad-based sell-off. However, elevated crude oil prices and higher US Treasury yields continued to weigh on sentiment.
22,600 Level Remains Important
Market analysts cited by Moneycontrol identified 22,600 on the Nifty as an important technical level. A decisive move below that level could signal additional weakness, while a sustained recovery above 22,800 could support a broader short-term rebound.
The market remains sensitive to global developments, particularly crude oil prices, US bond yields and geopolitical uncertainty linked to the US-Iran conflict. Brent crude was around $107 a barrel on Tuesday, adding pressure to India’s import costs and inflation outlook.
The session therefore reflects a temporary recovery from intraday lows rather than a clear reversal of the broader market pressure.
