India’s benchmark NSE Nifty recovered 1.7% to 22,535.85 points on Tuesday (April 8, 2025) after tanking more than 3% in the previous session, providing the much-needed respite to investors.

The Nifty opened at 22,446.75 points, about 285 points more than the previous close and slipped to an intra day low of 22,270.85 points.

The index reached a high of 22,697.20, a couple of hours before the market closed. Investors broke the three-day losing trend on Tuesday’s trading session.

All sectoral indices were in the green, in a reversal from the previous day’s trend. Media and entertainment stocks traded 4.72% higher than the previous close followed by financial services index, which was up 3.34% over the Monday’s close. The metals index increased to a bare minimum of 1.23%.

The BSE Sensex, too, rose 1.49% to 74,227.08 points on Tuesday. All Sensex firms, except Power Grid, ended in the positive territory. Titan, Bajaj Finance, SBI, L&T, Axis Bank, Bajaj Finserv, Asian Paints and Zomato were the biggest gainers.

“Overall market sentiment shifted to bullish, as evidenced by a strong advance-decline ratio on the BSE, surging to 3.57, the highest since June 6, 2024, indicating widespread buying interest,” said Nandish Shah, deputy vice president, HDFC Securities.

This, however, may not mean good news. “Despite this recovery of more than 950 points from yesterday’s low, the overall trend remains down, as the Nifty is still positioned below its five-day EMA. Support for the Nifty has moved up to 22,341, while resistance is placed in the range of 22,800-22,900,” he added.

Among Asian markets, Tokyo’s Nikkei 225 index, Hong Kong’s Hang Seng, Shanghai SSE Composite index and South Korea’s Kospi settled in the positive territory.

(With PTI inputs)