Sensex snaps four-day losing run as Nifty climbs back above 22,600
The indices recovered more than 1% from the day's lows in morning trade, led by metal and pharma stocks, but analysts warn that crude near $115 a barrel will cap any rally.
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The Sensex rose over 200 points to above 73,330 in morning trade on Monday, about 800 points above the day's low.
Kotak Mahindra Bank led the gains, while Asian Paints, Infosys and HUL fell.
Geojit analysts said high crude prices will limit the rebound, and India VIX jumped 4% to near 18.