The BSE Gauge Sensex crossed the 58,000-mark by rebounding more than 1,700 points and the Nifty recovered to the 17,000-level on Tuesday after plunging heavily in the previous session.
The 30-share Sensex rose 1,736.21 points, or 3.08 percent, to close at 58,142.05 – recovering from a loss on Monday. Similarly, the NSE Nifty rose 509.65 points, or 3.03 per cent, to 17,352.45.
On the Sensex chart, all 30 stocks closed with gains – Bajaj Finance, SBI, Bajaj Finserv, L&T and Titan rose 5.13 percent.
“When the street trade started today after yesterday’s biggest one-day fall in the last ten months, investors were wondering if the template had really changed. , Bring back the rally today led by IT and FMCG, ”said S Ranganathan, Head of Research, LKP Securities.
The description of the day, however, investors used the correction to their advantage, which started short covering the encouraging export data for January, he added.
Elsewhere in Asia, stock markets closed lower on fears of a possible Russian attack on Ukraine. The US administration has warned Russia of dire consequences if it launches an attack on Ukraine.
Global crude oil benchmark Brent futures fell 2.44 percent to USD 94.13 a barrel on Tuesday. Foreign institutional investors (FIIs) were net sellers in the capital market on Monday as they offloaded shares worth Rs 4,253.70 crore, according to the stock exchange.
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