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.
Sensex and Nifty fell on Monday in line with Asian markets which responded on poor Chinese trade data and an extended partial US government shutdown, fuelling concerns of a global growth slowdown.
However, losses were capped as India’s annual rate of inflation based on wholesale prices eased to 3.80 per cent in December 2018 from 4.64 per cent in November, official data showed on Monday.
Except for the export-oriented IT sectors on the BSE, which gained as the rupee weakened close to 30 paise, all other sectoral stocks witnessed heavy selling pressure.
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The rupee weakened to 70.79 per dollar, around the closing bell against the previous close of 70.49.
Index-wise, the Nifty50 declined by 57.35 points or 0.53 per cent to settle at 10,737.60.
The S&P BSE Sensex closed at 35,853.56, lower by 156.28 points or 0.43 per cent from the previous close of 36,009.84.
It had opened at 36,113.27 points and touched an intra-day high of 36,124.94 and a low of 35,691.75.
Stock-wise, Yes Bank was a top gainer, jumping close to 6 per cent.
Infosys, Sun Pharma, Bajaj Finance and Maruti Suzuki inched up in the range of 1 to 3 per cent.
In contrast, Larsen and Tubro and IndusInd Bank lost over 2 per cent while Vedanta, Power Grid and NTPC lost in the range of 1 to 2 per cent.
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