From the Sensex pack, Tata Motors, NTPC, Power Grid and Bajaj Finserv were the top gainers, rising about 2-3%. Infosys, Asian Paints, HDFC, Reliance, TCS and ITC also closed higher. On the other hand, Tata Steel, L&T, IndusInd Bank, Sun Pharma, and UltraTech Cement closed in the red.

Buying was seen across sectors and market segments, with PSU banks and Adani stocks leading the upside bounce.

From the Sensex pack, Maruti and Axis Bank were the top laggards, declining about 2.5-3%. TCS, Nestle, Infosys, M&M, Kotak Bank and Tech Mahindra also closed with cuts. On the other hand, Power Grid, Sun Pharma, HCL Tech, L&T and UltraTech Cement closed with gains.

There is a very famous quote by investor Peter Lynch that says, "You get recessions, you have stock market declines. If you don't understand that's going to happen, then you're not ready, you won't do well in the markets." Well, I think this quote truly describes the current market situation domestically and globally. Market has been down for a week but today the closing bell gave a bit of relief to the stock market.

Meanwhile, the market capitalisation of all listed companies on BSE declined by Rs 12.44 lakh crore to Rs 257.95 lakh crore in February.

Nifty IT index fell 1.95%. In the sensex pack, Tata Steel and Infosys were among top losers, falling over 2%, while Tata Motors and TCS lost close to 2%. Meanwhile, financials defied the bearish trend in markets, with ICICI Bank, Kotak Mahindra Bank and SBI among top gainers during the day.

Sensex declined 142 points or 0.24% to settle at 59,463. Nifty dropped 46 points or 0.26% to end at 17,465. Meanwhile, the market capitalisation of all listed companies on the BSE declined by Rs 6.79 lakh crore to Rs 260.07 lakh crore this week.

While Sensex declined 139 points or 0.23% to settle at 59,605.80, Nifty fell 43 points or 0.25% to end at 17,511.

Sensex crashed over 900 points while Nifty ended the day just above the 17,550-mark.

The 30-share BSE benchmark Sensex declined 19 points or 0.03% to settle at 60,673. The broader NSE Nifty dropped 18 points or 0.10% to end at 17,827.