Indian benchmark indices staged a strong recovery on Wednesday, with the BSE Sensex jumping over 600 points to 77,518 and the NSE Nifty gaining over 182 points to 24,178 as of 3:30 PM. According to reports from ABP Live, the rebound followed a weak trading session on Tuesday when domestic markets closed lower as rising oil prices and sustained foreign institutional selling weighed on sentiment. The Sensex had fallen more than 400 points, while the Nifty slipped below the 24,000 mark, dragged down by heavy selling in banking, financial and auto stocks.
Geopolitical tensions continue to shape market sentiment, with the ongoing stalemate between the US and Iran remaining a key concern. As reported by ABP Live, Brent crude remained elevated at around $111–112 per barrel, with delays in reopening the Strait of Hormuz keeping crude prices elevated. The UAE is set to exit OPEC from May 1, complicating the global energy outlook and adding to uncertainty in the market. For India, persistently high crude prices present a major macroeconomic risk, with potential implications for inflation, currency stability and corporate profitability across sectors. Latest developments show that Indian LPG tankers have reached India after facing delays due to the Strait of Hormuz crisis, providing some relief to domestic fuel supply concerns.
Equity markets across the Asia-Pacific region delivered mixed performance, with Australia's S&P/ASX and South Korea's Kospi edging lower, while Hong Kong's Hang Seng outperformed with gains of more than 1 per cent, according to ABP Live. US equities closed lower overnight, with the S&P 500 and Nasdaq Composite declining amid concerns over growth prospects in the technology sector. The subdued global mood continues to influence domestic investor sentiment despite the positive opening in Indian markets, with global oil prices showing volatility amid Middle East tensions.
Banking shares are expected to remain in focus after the Reserve Bank of India announced implementation of the Expected Credit Loss (ECL) framework from April 2027, as reported by ABP Live. The move is likely to raise provisioning requirements, particularly for PSU banks and lenders with greater exposure to riskier loan segments. This development adds to the sector's attention amid the broader market recovery, with banking stocks having been among the key contributors to Tuesday's decline.
According to ABP Live, during the early morning session, the BSE Sensex stood above 77,200, climbing nearly 400 points, while the NSE Nifty50 traded over 24,100, rising more than 100 points as of 9:15 AM. The markets opened in the green on Wednesday, recovering from the previous session's sharp losses, though investor sentiment remained cautious amid elevated crude prices and persistent foreign fund outflows. The strong opening performance helped set the stage for the continued gains throughout the trading session.
