Global stock markets witnessed a sharp sell-off as investors reacted to inflation concerns and heavy selling in technology and semiconductor stocks. On Wednesday, the US Nasdaq Composite fell 1.88%, while the S&P 500 declined 1.11%. Asian markets also came under pressure on Thursday, October 15. South Korea’s Kospi plunged around 8%, while Japan’s Nikkei 225 dropped nearly 4.4%. Chinese and Hong Kong markets also traded lower, raising concerns among investors across the region.

Indian Stock Market Makes a Powerful Recovery

While global markets struggled, Indian equities staged a strong comeback. The Sensex surged more than 1,500 points during the session, reaching 74,330.29, while the Nifty 50 climbed over 400 points and moved back above 23,000. Gains in information technology, banking and consumer stocks supported the rally. The sharp recovery came after the previous session’s weakness, surprising investors who were expecting global market pressure to weigh on Indian equities.


IT Stocks Lead the Market Rally

Information technology shares emerged as an important driver of the recovery. TCS, Infosys, HCL Technologies and Tech Mahindra recorded gains for the third consecutive session, supported by company results and changing investor sentiment around artificial intelligence stocks. Weakness in some global technology shares may also influence foreign investors’ investment decisions. However, the impact on Indian equities will depend on earnings, valuations and future investment flows. Investors are also watching developments around possible changes to long-term capital gains taxation.


Falling Crude Oil Prices Offer Some Relief

Crude oil prices declined by more than a dollar during Thursday’s trading session. Brent crude futures fell by $1.76, or 1.75%, to around $104 per barrel. Lower oil prices can benefit India because the country imports a large share of its crude requirements. Cheaper oil can reduce pressure on import costs, inflation and the rupee. However, concerns remain over possible supply disruptions following attacks on shipping in the Strait of Hormuz.


Rupee Gains as Dollar Weakens

The Indian rupee opened stronger against the US dollar, gaining around 0.2% to 94.92 after closing at 95.15 in the previous session. The dollar had recently reached an 18-month high before weakening. A softer dollar can provide some relief to emerging markets, including India. However, currency movements remain sensitive to global economic developments, foreign investment flows and oil prices. Sustained stability in the rupee could help improve investor confidence.


Weekly Expiry Adds to Market Volatility

Thursday also marked the weekly expiry of Sensex derivatives contracts, which can increase intraday volatility as traders adjust their positions. Short covering may have contributed to the upward movement, although the exact contribution cannot be established from the reported index gains alone. The rally came despite weakness across major global markets, supported by domestic buying and gains in key sectors. Whether the recovery continues will depend on earnings, crude oil prices, foreign investor activity and broader global sentiment.