MUMBAI: India’s benchmark equity indices rebounded strongly on Tuesday after four sessions of losses, supported by gains in information technology stocks and renewed buying in large-cap shares.
The BSE Sensex rose 382.50 points, or 0.52%, to close at 74,649.84, while the NSE Nifty 50 advanced 100.95 points, or 0.43%, to settle at 23,483.55.
The recovery came after both indices fell to their lowest intraday levels in nearly two months. The Sensex dropped as much as 452 points during trading before recovering nearly 835 points from the day’s low to finish in positive territory. The Nifty also rebounded more than 250 points from its session low.
According to media reports, market sentiment improved after US President Donald Trump said discussions with Iran were continuing, easing concerns that diplomatic efforts had stalled completely. A decline in global crude oil prices also supported investor confidence.
Technology shares led the rally, with the Nifty IT index surging 4.23%, extending gains from the previous session. Among Sensex constituents, Tata Consultancy Services climbed 6.53%, Infosys gained 5.66%, HCL Technologies advanced 4.08%, and Tech Mahindra rose 1.76%.
Adani Ports and Special Economic Zone and Titan Company also ended higher.
However, some stocks remained under pressure. NTPC fell 2.89%, while Axis Bank, Power Grid Corporation, ICICI Bank and Bajaj Finance closed lower.
Broader markets also recorded gains, with the Nifty Midcap 100 rising 0.19% and the Nifty Smallcap 100 adding 0.40%. Investor anxiety eased as the India VIX volatility index declined 7.17%.
The rupee weakened marginally to close at 95.2650 against the US dollar.
Market participants are now expected to focus on macroeconomic factors, including monsoon progress, inflation trends, Reserve Bank of India policy decisions and liquidity conditions, according to analysts cited in media reports.
