Indian benchmark indices opened on a positive note on Wednesday, June 24, with the Sensex climbing around 200 points to trade at 76,400 levels in early morning deals. The Nifty also gained nearly 50 points and was seen hovering around the 23,900 mark.

This comes after a sharp sell-off on Tuesday, when the markets witnessed heavy profit booking. On Tuesday, the Sensex had tumbled 893 points to close at 76,200, while the Nifty dropped 278 points to settle at 23,824.

Market participants were seen showing interest in select sectors, particularly IT and pharma, which led the recovery. Shares of Tech Mahindra, Infosys, Power Grid, and ICICI Bank rose up to 3 per cent in morning trade, contributing to the overall positive sentiment.

Buying in these counters helped the indices recoup some of the previous session’s losses. However, the broader market mood remained cautious as participants tracked global cues.

Asian markets showed a mixed trend in early Wednesday sessions. While Hong Kong’s Hang Seng edged higher by 0.22 per cent, South Korea’s Kospi slipped 1.10 per cent and Japan’s Nikkei declined 0.38 per cent.

Overnight, US markets ended in the red. The Nasdaq witnessed a sharper fall of over 2 per cent, while the S&P 500 declined around 1.44 per cent. The Dow Jones also closed marginally lower.

Foreign institutional investors (FIIs) turned net buyers on Tuesday, purchasing shares worth ₹183 crore. Domestic institutional investors (DIIs) too bought shares worth ₹680 crore. This buying by institutions provided some support to the domestic market.

Analysts noted that after the sharp decline on Tuesday, some bargain hunting was visible, especially in frontline IT and pharma stocks that had underperformed in recent sessions. However, they added that sustained momentum would depend on global risk appetite and upcoming domestic triggers.

Further details on sectoral performance and individual stock movements are still emerging as trading continues. The investigation into broader market volatility, if any regulatory angle develops, remains under watch, though no specific concerns have been flagged so far.

The recovery, though modest, offers some relief to investors after Tuesday’s sharp fall. Market watchers will now keenly monitor how the indices hold key levels in the coming hours.