New Delhi:
Investor net worth rose more than Rs 2.51 lakh crore on Tuesday, in line with a sharp recovery in equities after four days of sharp declines.
The BSE Sensex opened weakly, falling 581.93 points or 1.10 percent to 52,260.82 over the course of the day amid strengthening oil prices and relentless selling by foreign institutional investors.
Amid bouts of volatility, the benchmark reached a high of 53,484.26 and a low of 52,260.82 in trading.
It eventually finished at 53,424.09, an increase of 581.34 points or 1.10 percent.
With the recovery of the shares, the market capitalization of BSE-listed companies increased by Rs 2,51,663.79 crore to Rs 2,43.62,494.83 crore.
“Markets remained volatile but managed to finish with gains and took a breather after the recent fall. The bias was negative in the first half and continued the prevailing trend. But healthy buys from select heavyweights led to a sharp recovery in the second half,” said Ajit Mishra, VP – Research, Religare Broking Ltd.
Sun Pharma is the biggest winner among Sensex companies with a jump of 3.99 percent, followed by TCS, NTPC, Wipro, Tech Mahindra, Dr Reddy’s, UltraTech Cement and Infosys.
In contrast, Tata Steel, Titan, PowerGrid, Nestle India and Reliance Industries were among the laggards.
In the broader market, the BSE mid-cap index gained 1.46 percent and the small-cap index 1.33 percent.
Nifty opened lower in line with global competitors. Increased sales pressure pushed Nifty to 15,671 – below the previous day’s low. However, there was some calm in the second half of the day due to short-covering in the domestic market as well as recovery in global markets,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.
Meanwhile, the international oil benchmark Brent oil rose 3.37 percent to $127.4 a barrel.
Foreign institutional investors continued their sell-off in Indian markets as they netted shares worth Rs 7,482.08 crore on Monday, according to data from the exchange.