New Delhi: The Indian equity indices staged a strong comeback on Tuesday led by buying across all sectors amid signs of de-escalating tensions between Russia and Ukraine. Some troops in Russia’s military districts adjacent to Ukraine are returning to their bases after completing drills, news agency Reuters reported citing the Russian ministry.
The 30-share BSE Sensex rebounded 1,736 points or 3.08 per cent to close at 58,142, while the broader NSE Nifty settled 510 points or 3.03 per cent higher at 17,352. Both the domestic indices had crashed 3 per cent on Monday, marking the worst fall in 10 months.
Mid- and small-cap shares finished on a positive note as Nifty Midcap 100 index moved 2.86 per cent higher and small-cap shares gained 2.51 per cent.
All the 15 sector gauges — compiled by the National Stock Exchange — settled in red. Nifty IT and Nifty Private Bank outperformed the index by climbing as much as 4.01 per cent and 3.99 per cent respectively.
On the stock-specific front, Tata Motors was the top Nifty gainer as the stock soared 6.69 per cent to Rs 503. Bajaj Finance, Eicher Motors, Shree Cement and Hero MotoCorp were also among the gainers.
In contrast, Cipla and ONGC were among the laggards.
On BSE, the overall market breadth stood positive as 2,052 shares advanced while 1,319 declined.
On the 30-share BSE platform, Bajaj Finance, SBI, Bajaj Finserv, L&T, Titan, Wipro and Asian Paints attracted the most gains with their shares rising as much as 5.13 per cent.
“The market witnessed the strong pullback rally after a big correction that occurred in the market on Monday. While sustaining above 17,200 is the key factor from a short-term perspective, market research suggests, a decisive breakout above the zone of 17,400-17,450 could open the gate for a movement till 17,800. The momentum indicators like RSI, MACD indicate a positive outlook and market breadth to improve further after the decisive level breakout of the resistance zone,” said Vijay Dhanotiya, Category Lead – HNI Products at CapitalVia Global Research Ltd.