Sensex rises 308 points, Nifty above 23,000 even as broader markets crash

The Sensex rose 308 points and the Nifty held above the 23,000 mark even as the broader market crashed, according to Token Times.

The split between the headline indices and the wider market puts the question of whether the bulls can extend the recovery next week at the centre of trading desks' attention. Gains in the benchmarks came while the broader universe of stocks weakened, leaving the market's direction unsettled.

For readers tracking the benchmarks, the session's lesson is that index-level strength is not the same as broad participation. The Nifty's hold above 23,000 gives the recovery a level to defend, but the weakness beneath the surface is the test of whether it lasts.

Attention now turns to next week's trading, with the market watching whether the large-cap advance broadens out or the gap between the benchmarks and the rest of the market widens further.