Explained: Why is market bouncing back? Sensex recovers over 700 points from day’s low; Nifty back above 23,400

Following an early morning slump, Indian stock markets rebounded robustly on Friday. This turnaround was encouraged by a significant drop in oil prices and a moderation in bond yields from their recent peaks. The anticipated discussions between Gulf nations and Iran regarding shipping management in the Strait of Hormuz also played a crucial role in easing supply concerns and stabilizing the market.