A glimmer of hope appeared in the Indian stock markets as both Sensex and Nifty climbed after a three-day decline of nearly 1 per cent.
Despite a muted start in early trade on Tuesday, benchmark indices ended higher after being powered by a rally in blue-chip stocks, especially Reliance Industries and HDFC Bank.
The 30-share BSE Sensex jumped 446.93 points or 0.55 per cent to settle at 81,337.95. During the day, it surged 538.86 points or 0.66 per cent to 81,429.88.
The 50-share NSE Nifty climbed 140.20 points or 0.57 per cent to 24,821.10.
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From the Sensex pack, Reliance Industries edged higher by 2.21 per cent. The other gainers were Larsen & Toubro, Asian Paints, Tata Motors, Adani Ports, Tata Steel, Maruti, Bharti Airtel, Bajaj Finance and HDFC Bank.
However, Axis Bank, Tata Consultancy Services, Titan and ITC were among the biggest laggards.
Foreign Institutional Investors (FIIs) offloaded equities worth ₹6,082.47 crore on Monday, according to exchange data. Their outflow was one of the reasons for the indices to register a fall since the past few days.
In Asian markets, Japan’s Nikkei 225 index and Hong Kong’s Hang Seng settled lower while South Korea’s Kospi and Shanghai’s SSE Composite index ended in positive territory.
Markets in Europe were trading higher, although the US markets ended on a mixed note on Monday.
Global oil benchmark Brent crude climbed 0.63 per cent up to USD 70.48 a barrel.
Stock markets had declined for the third day on Monday, when the Sensex tanked 572.07 points or 0.70 per cent to settle at 80,891.02 and Nifty declined 156.10 points or 0.63 per cent to 24,680.90.
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