CAS swing: Sensex closes 138 pts higher, Nifty above 23,450 as market reverses losses despite soaring oil prices. What’s ahead?

In a surprising turnaround, India’s stock market indices, Sensex and Nifty, erased intraday losses to close positively on Thursday. Ending a three-day decline, the benchmarks saw Power Grid and Axis Bank surge by nearly two percent, contributing to the upward momentum. Additionally, significant names like UltraTech Cement and NTPC also recorded gains.