Market posted strong gains, most of Adani Group stocks recover
At close, the Sensex was up 1,961.32 points or 2.54% at 79,117.11, and the Nifty was up 557.35 points or 2.39% at 23,907.25.
Domestic equity benchmarks ended around 0.8 per cent on Tuesday, tracking losses in index-heavyweights Reliance Industries, HDFC twins and Maruti amid weak cues from Asian peers. The S&P BSE Sensex ended 300.06 points or 0.79 per cent down at 37,734.08 levels with Maruti and Larsen & Turbo being the top losers with losses of 2.83 per cent and 2.82 per cent respectively.
The broader NSE Nifty fell 96.90 points or 0.86 per cent to 11,153.65.
Other laggards on the Sensex pack included: IndusInd Bank, Axis Bank, ONGC, Reliance Industries, Asian Paints and HDFC. On the other hand, HCL Tech, TCS, Sun Pharma and Tech Mahindra were among the gainers.
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The broader market followed the equity indices and slipped over a half per cent. The MidCap dropped 1.7 per cent while the SmallCap ended 1.6 per cent down.
Indian market was subdued following continued selling in other major markets across the globe due to fresh worries over another round of restrictions due to increase in COVID-19 cases, which could harm the already sluggish economic recovery, said Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi.
During the afternoon session market briefly tried to recover, but failed to sustain as fresh selling across the broader markets returned, he added.
Bourses in Shanghai, Hong Kong and Seoul ended with losses, while stock exchanges in Europe opened on a positive note.
Meanwhile, global oil benchmark Brent crude was trading 1.30 per cent higher at USD 41.98 per barrel.
In the forex market, the rupee depreciated 20 paise to close at 73.58 against the US dollar.
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