The BSE index Sensex rebounded more than 315 points to 56,721 in Tuesday’s opening session, led by buying in IT and FMCG shares, despite a sluggish global market due to the Ukraine crisis.
The 30-share Sensex opened on a positive note and consolidated its gains as morning trade progressed. It was last at 56,721.45, up 315.61 points or 0.56%.
Likewise, the NSE barometer Nifty was trading 128 points or 0.76 per cent higher at 16,970.80.
Sensex, mainly driven by HUL, Wipro, Tech Mahindra, Titan and Infosys, rose as much as 1.55%.
The BSE Sensex tumbled 1,747.08 points or 3% to end at 56,405.84 on Monday. It was the biggest one-day drop since Feb. 26, 2021.
Likewise, the NSE Nifty index plunged 531.95 points or 3.06% to 16,842.80, closing below the key 17,000 level for the first time this year.
Investors have lost more than Rs 1,238 crore in the past two days.
“Markets – stocks, bonds, crude oil, gold – have become highly volatile on fears of Russia-Ukraine tensions. Indian equities are expensively valued and had the biggest correction among emerging markets, with the Sensex down 3% yesterday,” Geojit Financial Services Chief Investment Strategist VK Vijayakumar.
Elsewhere in Asia, stocks fell on fears that Russia could invade Ukraine. The U.S. government has warned Russia of serious consequences if its forces attack Ukraine.
Brent futures, the global crude benchmark, fell 0.61% to $95.89 a barrel on Tuesday.
Foreign institutional investors (FII) became net sellers in the capital market on Monday as they dumped shares worth Rs 4,253.7 crore, according to stock exchange data.
Complete News Source : Hindustan Times
