Sensex Rises 238 Points, Nifty Ends Above 23,960

"A decisive close above this band is essential to confirm a bullish breakout and pave the way for a potential recovery towards the 24,400 level," an analyst said.

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"On the downside, 23,900 continues to act as a crucial near-term support. A sustained break below this level could intensify selling pressure, exposing the index to further downside towards the 23,800–23,600 zone," a market expert mentioned.

Among the Nifty constituents, Sun Pharmaceutical Industries, Bajaj Finserv and Bharti Airtel emerged as the top gainers, supporting the market's recovery.

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The broader market outperformed the benchmark indices, with the Nifty MidCap index ending 1.38 per cent higher and the Nifty SmallCap index rising 1.80 per cent.

On the sectoral front, the Nifty Realty index led the gains, followed by the Nifty Media, Nifty Consumer Durables and Nifty PSU Bank indices, which also ended the session in positive territory. In contrast, the Nifty IT index was the biggest laggard, limiting the overall gains in the market.

Experts said that the day's performance reflected renewed investor interest in domestic-facing sectors, while broader market strength outweighed weakness in information technology stocks.

"Domestically, sentiment remains relatively resilient, underpinned by an improved outlook for H2, a recovery in rainfall conditions, and better valuation levels. That said, the latest US Fed minutes flagged renewed inflation concerns, which could weigh on the performance of the global market," a market expert noted.