Both the benchmark indices closed the session with positive gains experiencing a notable recovery from its lows on Tuesday.

Nifty dropped as much as 0.5 per cent to an intraday low of 23,842.75 before rebounding to a high of 24,229.05, up 1.6 per cent from the day’s low. Sensex rose over 1200 points from its day’s low to 79,523.13 during the day. Nifty settled in green at 24,198.30, up 0.85 per cent while Sensex settled at 79,476.63, higher by 0.88 per cent.

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On Nifty50, 39 constituents closed the session in positive territory with JSW Steel topped the list with a gain of 4.7 per cent. This was followed by Bajaj Auto, which rose by 3.7 per cent. Other notable performers included Tata Steel, Hindalco Industries, Axis Bank, and HDFC Bank, all of which ended the session with gains exceeding 2 per cent.

On Sensex, the top gainers were Tata Steel (3.64 per cent), Axis Bank (2.73 per cent), HDFC Bank (2.56 per cent), Indusind Bank (2.49 per cent), and State Bank of India (2.33 per cent). On the losing side were ITC (0.96 per cent), Asian Paints (0.91 per cent), Bharti Airtel (0.80 per cent), Infosys (0.63 per cent), and Larsen & Toubro (0.39 per cent).

Among the sectors, Nifty Metal index recorded a sharp gain of 2.84 per cent, followed by the Nifty Private Bank, Nifty PSU Bank, and Nifty Auto indices, each ending with gains of over 1 per cent. Conversely, the Nifty FMCG and Nifty Media indices experienced modest losses, declining by more than 0.30 per cent.

Shares of Mazagon Dock Shipbuilders rose 4 per cent after reporting its September quarter results which saw a sharp increase year-on-year, across all parameters.Saregama India shares fell 5 per cent after the company reported its September quarter results.

ABB India shares fell 3 per cent after the company’s September earnings came in below estimates and order inflow fell 2.7 per cent QoQ. Gillette India’s stock rose 27 per cent to ₹10,466 in seven days after healthy Q2 financial results. The stock has delivered a 142.5 per cent gain in 18 months while year-to-date, Gillette India shares are up by 61.5 per cent, marking its most significant yearly increase since 2017.

Markets declined in the early trade amid constant foreign fund outflows and cautious investors’ sentiment ahead of the US presidential elections outcome and the Federal Reserve interest rate decision.