Indian shares edged higher on Thursday, tracking the gains in Asian markets, after closing lower for three consecutive sessions. The rebound was led by the energy and metals sectors.
The NSE Nifty 50 index was up 0.15% at 22,181.20 as of 10:16 a.m. IST, while the S&P BSE Sensex rose 0.05% to 72,974.
Both the benchmark indices had dropped around 2.7% each in the last three sessions, weighed down by fading hopes of early U.S. interest rate cuts and concerns over geopolitical tensions in the Middle East.
The recovery in Indian shares was driven by a fall in crude oil prices, which benefited the energy stocks. Additionally, metal stocks gained on global supply worries.
The rebound in the Indian equity market came after a three-session decline, reflecting the volatility in the market amid shifting investor sentiment. The performance of the energy and metals sectors played a key role in driving the overall market higher on the day.
