Nifty Rebounds but Remains in Correction Mode
The Indian stock market staged a modest rebound on Friday, recovering 77 points to close at 23,140 after Wednesday's sharp sell-off.
The Nifty index opened 28 points higher and traded in a narrow range for most of the session before recovering around 142 points from its intraday low.
Despite Friday's gains, the Nifty posted its seventh consecutive weekly decline, falling 0.88% over the week.
The index has now corrected more than 1,750 points from its early-August swing high of 24,772.
Sectoral performance was mixed, with Consumer Durables, Realty, and Auto leading the gains, while Healthcare, Media, and IT were the top laggards.
The Indian rupee strengthened 15 paise to close at around 95.81 against the US dollar, tracking gains across major Asian currencies.