Due to a drop in the rupee and investor concerns about the profits of local firms, domestic stock markets finished Tuesday on a positive note, rebounding from seven-month lows reached during the previous trading session.

The BSE Sensex closed the day higher at 76,499.63, up 169.62 points, or 0.22 percent, while the domestic benchmarks, the Nifty, ended at 23,207.60, up 121.65 points, or 0.53%.

Keeping an eye on domestic stock market transactions, “Markets found some relief after the recent downturn, ending the day with nearly half a percent gain,” said Ajit Mishra, SVP, Research, Religare Broking Ltd. The Nifty slightly increased during the first trades after the gap-up, but the recovery was constrained by pressure on a few heavyweights.

According to experts, markets are almost in oversold territory after yesterday’s decline. Although there may be a little spike from here, the plan will be to see if investors use another “sell on every rise” approach or whether the market continues to increase. Oversold circumstances, which often lead to such recoveries, were a major factor in the comeback, according to Mishra.

“While other sectors are still under negative pressure, IT and FMCG, which had up until now demonstrated resilience, are starting to show indications of weakening. Therefore, we advise taking a stock-specific strategy and giving risk management first priority in the present climate,” he said.

“Slow GDP growth and poor demand might cause disappointment if expectations are to replicate the gains of prior years. Furthermore, India’s fuel needs are mostly met by crude oil, and increasing crude prices, which raise fixed costs, make it difficult to manage inflation and increase demand, according to VLA Ambala of Stock Market Today.

She went on to say that the rupee’s decline and geopolitical tensions are probably going to continue, which would help IT profits but hurt other industries.

Investors should avoid market noise and prepare appropriately in order to concentrate on specific objectives in these circumstances,” she said.

Adani Enterprises, Adani Ports, NTPC, Hindalco, and Shriram Finance continued to be the top gainers on the National Stock Exchange (NSE) today. However, throughout the trading, the biggest losses were HCL Tech, HUL, Apollo Hospitals, Titan Company, and TCS.

On the sectoral front, every sectoral index concluded in the green zone, with the exception of IT and FMCG.

The BSE Midcap index increased by 2% during today’s trading session, while the small-cap index increased by 1.7%.