New Delhi: Indian stock indices made a strong comeback on Tuesday, led by buying across all sectors amid signs of easing tensions between Russia and Ukraine. Some troops in Russia’s military districts bordering Ukraine are returning to their bases after completing exercises, Reuters news agency reported, citing the Russian ministry. The 30-share BSE Sensex bounced 1,736 points, or 3.08 percent, to 58,142, while the broader NSE Nifty was 510 points, or 3.03 percent, higher at 17,352. Both domestic indices had crashed 3 percent on Monday, marking the worst drop in 10 months.
Mid- and small-cap stocks ended positively as the Nifty Midcap 100 Index moved up 2.86 percent and small-cap stocks gained 2.51 percent.
All 15 sector meters – compiled by the National Stock Exchange – were settled in red. Nifty IT and Nifty Private Bank outperformed the index, rising 4.01 percent and 3.99 percent respectively.
On the stock-specific front, Tata Motors was the biggest gainer as its share rose 6.69 percent to Rs 503. Bajaj Finance, Eicher Motors, Shree Cement and Hero MotoCorp were also among the winners.
Cipla and ONGC, on the other hand, were among the laggards.
In terms of BSE, the overall market size was positive, with 2,052 shares moving forward, while 1,319 shares fell.
On the 30-share BSE platform, Bajaj Finance, SBI, Bajaj Finserv, L&T, Titan, Wipro and Asian Paints drove the most gains, up a whopping 5.13 percent.
“The market witnessed the strong pullback rally after a major correction that occurred in the market on Monday. While maintaining above 17,200 is the key factor from a short-term perspective, market research suggests, a decisive break above the 17,400-zone zone would 17,450 can open the gate for a move up to 17,800. The momentum indicators like RSI, MACD point to a positive outlook and market breadth to improve further after the decisive break through the resistance zone,” said Vijay Dhanotiya, Category Lead – HNI Products at CapitalVia Global Research Ltd.