New Delhi: Equity indices jumped for the second consecutive session on Tuesday with the benchmark BSE Sensex rising over 900 points amid a strong rally in global markets.
After a volatile session, the BSE 30-share index jumped 934 points, or 1.81 per cent, to end at 52,532. Whereas, the broader NSE Nifty closed 289 points or 1.88 per cent higher at 15,639.
Titan, SBI, TCS, HCL Tech, Dr Reddy’s and Tata Steel were the top gainers in the Sensex pack, up 5.92 per cent.
At the same time, Nestle was the only company to decline up to 0.26 per cent.
On the NSE platform, all sub-indices ended in the green with Nifty Media, Oil & Gas, Metal and PSU Banks.
Both Sensex and Nifty had suffered heavy losses last week on fears that aggressive rate hikes across the world to curb inflation could trigger a recession.
Analysts said while a rally was expected after the sell-off, market conditions remain uncertain.
“Absence of fresh sell-off triggers in the domestic and global economy as well as fall in commodity prices provided relief to the heavily discounted equity market,” Vinod Nair, Head of Research, Geojit Financial Services, told PTI.
However, with the highly sensitive nature of the current equity market, even the slightest discomfort can trigger volatility, he said.
Nifty Smallcap 100 and Nifty Midcap 100, which were beaten heavily on Monday, climbed nearly 3.5 per cent on Tuesday.
The Nifty IT index, the worst-performing sub-index so far this year, jumped 3.1 per cent, while the Nifty Metal index climbed 4% after hitting a 14-month low in the previous session. Nifty Auto index rose 2 per cent.
Meanwhile, foreign institutional investors (FIIs) remained net sellers in the capital market as they sold shares worth Rs 1,217.12 crore on Monday, according to exchange data.
(with inputs from agencies)
FacebookTwitterinstagramKu APPyoutube