Indian markets bounce then slip Tuesday as Sensex gains 500
Business
Indian stock markets had a bumpy start on Tuesday but quickly bounced back, with Sensex rising 500 points and Nifty crossing 22,700.
By midmorning, though, both slipped again: Sensex was down 198.04 points at 72,573.68 at 11:31am and Nifty was down 55.35 points at 22,724.90 at 11:31am.
Out of 3,909 stocks traded, more fell than rose.
Value hunters push rebound, investors wary
Analysts say the rebound was mostly thanks to value hunters jumping in after recent selloffs left stocks looking cheap.
But caution is still in the air: high US Treasury yields and oil prices are making investors nervous.
Experts warn that if Nifty dips below 22,600, we could see more weakness ahead, so it's worth keeping an eye on those levels for now.