Nifty Bounces Back 200 Points as Banks Lead Late Recovery
Facebook
Twitter
LinkedIn
WhatsApp
Summary: Axis Bank sparks a rebound as Nifty trims losses; Reliance and ICICI Bank also claw back ground.
The Nifty 50 staged a steady comeback on Thursday, recovering nearly 200 points from the day’s lows, helped largely by renewed buying in heavyweight banking stocks. After slipping into the red during early trade, the market found its footing as investors stepped back into select large-caps, easing some of the session’s pressure.
Axis Bank emerged as the primary driver of the upswing. The stock received strong purchasing interest in the second half of the session, which improved overall confidence in the banking sector. Its move helped the Nifty Bank index pare losses and provided much-needed support to the broader market.
Other index heavyweights also joined the recovery. Reliance Industries (RIL) recovered from intraday lows, boosted by bargain hunting following recent volatility. ICICI Bank, another big index contributor, followed suit, reducing early losses and helping the Nifty recover from the brink.
The broader mood, however, remained cautious. Traders pointed to global cues and uncertainty around tariffs and interest rates as reasons for the early sell-off. Volatility was evident across sectors, with metals and IT companies under pressure while financials kept the index constant.
Market participants said the recovery reflects selective buying rather than a full-fledged trend reversal. “Banks are still the market’s shock absorbers,” one dealer noted, adding that investors continue to rotate money into large, liquid names whenever the index dips sharply.
By late trade, the Nifty had managed to cut a large part of its losses, signalling that dip-buying interest remains intact, at least near key support levels. Analysts said the index’s ability to defend its lows will be crucial in the coming sessions, especially with global events and macro data likely to keep sentiment fragile.
For now, the day belonged to the banks — with Axis Bank leading from the front — offering the market a breather after a shaky start.
