Sensex rises 47 points, Nifty closes above 24,200 as market recovers all morning losses. What’s ahead?

Sensex closed up 47 points at 77,616 and Nifty 50 up 4 points at 24,211, sharply recovering from intraday lows of around 759 and 211 points respectively. IT stocks led the rebound with TCS, HCLTech, Infosys, and Tech Mahindra gaining 3-5 percent, while Tata Steel and Eternal dropped nearly 2 percent each. Despite rising US-Iran tensions and Brent crude hovering around $78 per barrel, FIIs remained net buyers for the eighth consecutive session, purchasing equities worth about Rs 2,604 crore on Friday and nearly Rs 11,077 crore in July so far.