MUMBAI, March 5 — Indian benchmark indices traded higher during Thursday’s session, with Sensex up 350 points and the Nifty 50 holding above the key 24,600 level as buying in metal and public sector stocks supported the market. The rebound came after a period of volatility driven by global geopolitical developments and rising energy prices.
During the trading session, the BSE Sensex rose around 350 points to trade near 79,500, while the NSE Nifty 50 moved above 24,600, reflecting gains across several sectoral indices. Market breadth remained positive with more advancing stocks than declining ones on both major exchanges.
The recovery marked a stabilization for Indian equities after benchmark indices had declined in previous sessions amid global market concerns.
Sensex Up 350 Points as Benchmarks Trade Higher
The market session saw Sensex up 350 points during intraday trade, indicating renewed buying interest in large-cap and commodity-linked companies.
The Nifty 50 index maintained its position above the 24,600 level, a threshold closely tracked by investors and market participants.
Data from the exchanges showed that most sectoral indices traded in positive territory, reflecting broad participation across sectors including metals, energy, and public sector enterprises.
Mid-cap and small-cap indices also advanced during the session, indicating that gains were not limited only to large-cap stocks.
The Sensex up 350 points movement represented a moderate rebound after recent declines in the market earlier in the week.
Metal Stocks Lead Market Gains
Metal stocks emerged among the strongest performers in the session.
Companies involved in mining, aluminum production, and steel manufacturing recorded notable gains as investors increased exposure to commodity-linked equities. The Nifty Metal index advanced significantly, making it one of the top performing sectoral indices of the day.
Shares of companies such as Hindalco Industries and Coal India moved higher during trading hours, contributing to the rise in benchmark indices.
Commodity-related stocks often respond to global demand trends and changes in industrial activity. Increased buying interest in these stocks helped support the broader market during the session.
The gains in the metal sector were a key factor behind the Sensex up 350 points move recorded during the day.
PSU Stocks See Strong Buying Interest
Public sector companies also contributed to the market’s upward movement.
Shares of several government-owned enterprises in sectors such as energy, infrastructure, and defense recorded gains during the session. Stocks including NTPC and Bharat Electronics were among those trading higher.
PSU companies frequently attract investor interest when infrastructure spending, energy demand, or commodity prices show movement in global markets.
Buying in these companies supported the broader indices and helped maintain the upward momentum across benchmark stocks.
Energy Stocks Supported by Crude Oil Prices
Energy-related companies also recorded gains during the trading session.
Global crude oil prices remained elevated, with Brent crude trading above $84 per barrel, reflecting geopolitical tensions in the Middle East and supply concerns in international markets.
India imports a significant portion of its crude oil requirements, making oil price movements an important factor for domestic markets.
Stocks linked to energy exploration and production benefited from the rise in oil prices, contributing to the Sensex up 350 points performance during the day.
Global Market Developments Influence Sentiment
Global market developments continued to influence investor sentiment in Indian equities.
Asian markets traded mixed during the session as investors monitored geopolitical developments and energy prices. Earlier in the week, concerns related to tensions in the Middle East had pushed global energy prices higher and triggered volatility across several financial markets.
Indian equities had also experienced declines during previous sessions due to these developments.
Thursday’s rebound came as investors responded to improved sentiment in global markets and sector-specific buying in commodity and public sector stocks.
Broader Market Participation Improves
The broader market also recorded gains alongside benchmark indices.
Mid-cap and small-cap stocks moved higher during the session, reflecting wider participation from investors across sectors.
Data from the National Stock Exchange and Bombay Stock Exchange showed that advancing stocks outnumbered declining ones, indicating positive market breadth.
Infrastructure, engineering, and energy-related companies also witnessed increased trading activity during the day.
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The movement, with Sensex up 350 points, highlighted the market’s ability to stabilize after recent declines while sector-specific gains supported benchmark indices.