Indian equity markets staged a recovery from early losses on Tuesday as investors accumulated stocks at lower levels following a weak start to the trading session. The buying interest helped the benchmark indices trim a substantial portion of their declines, with the Sensex recovering nearly 300 points from the day's low and the Nifty moving back above the 24,100 mark.

By around 11:15 a.m., the BSE Sensex was trading at 77,325.27, down 291.12 points or 0.38 percent, while the NSE Nifty 50 stood at 24,131, lower by around 80 points or 0.33 percent. Earlier in the session, the Sensex had declined as much as 614.82 points to 77,001.58, while the Nifty fell to an intraday low of 24,038.10.

The recovery was primarily driven by value buying as investors took advantage of lower stock prices after the sharp opening decline. The renewed buying interest helped benchmark indices recover a significant portion of their intraday losses.

Market participants also remained focused on the weekly expiry of equity derivatives contracts, a session that typically witnesses elevated volatility due to the unwinding and rollover of futures and options positions. Such activity often leads to sharp intraday movements in benchmark indices and individual stocks.

Technical factors also supported the market's recovery. The Nifty rebounded after testing the 24,000 support zone, a level closely tracked by traders and technical analysts.

According to Devarsh Vakil, Head of Prime Research at HDFC Securities, the immediate trading range remains between 24,000 and 24,300. A sustained move above 24,300 could open the possibility of the index advancing towards 24,530, while a decisive breach below 24,000 may result in a decline towards the 23,800 support level.