Indian shares recoup losses ahead of small-, mid-cap stress test results

BENGALURU: Indian shares rebounded on Thursday, recovering some of the losses from the previous session, led by a rally in energy stocks, as investors awaited the highly anticipated results of stress tests on certain mutual funds schemes.

The blue-chip NSE Nifty 50 index rose 0.68% to 22,146.65, while the BSE Sensex gained 0.46% to 73,097.28. They had lost 1.5% and 1.2%, respectively, in the previous session.

The broader, more domestically-focussed small- and mid-caps, climbed 3.45% and 2%, respectively, recouping some losses from Wednesday.

They have lost 11.4% and 5.8%, respectively, from their record highs on Feb. 8, compared to the 2% rise in Nifty.

Many market participants had attributed the broader market rally over much of 2023 and early 2024 to investors disregarding fundamentals. The country’s markets regulator on Monday, referred to it as froth.