Despite initial hiccups, the Benchmark indices recovered on Tuesday and climbed for the second day in succession.
The 30-share pack Sensex went up 445.56 points or 0.75 per cent to close at 59,744.88. The index circled in the 652-point range. Its broader peer NSE Nifty rose 131.05 points or 0.74 per cent to 17,822.30.
The mood of European markets was upbeat as it rebounded after the US tech-based sell-off, thereby helping the Indian market to regain momentum. Also, the rout of the Chinese economy led by power shortage provided a positive surprise to few sectors in the Indian market, experts opined.
HFCL hit 5 per cent upper circuit limit after bagging Rs 288 crore order while Telcos
gained up to 3 per cent as government said it would drop spectrum usage charge. The
Oil and gas explorers were in the spotlight on crude oil rally. While IT stocks bounced
bounce back on weakness in rupee against US dollar. India VIX, a barometer of volatility and fear, dropped over 2 per cent.
Among the top companies, ONGC was the topmost gainer, rising 10.77 per cent. IndusInd Bank, Coal India, Indian Oil, SBI Life Insurance, Bharti Airtel, HCL Tech and Reliance Industries were the other gainers.
Cipla was the top loser again today in the Nifty pack, falling 2.40 per cent. Hindalco Industries, Shree Cements, Sun Pharma, Tata Consumer and Power Grid were others that ended in the red.
Broader market indices ended higher, but underperformed their headline peers. Nifty Smallcap rose 0.44 per cent and Nifty Midcap advanced 0.43 per cent. Nifty 500, the broadest index on NSE, ended up 0.65 per cent.
Market breadth was in favour of gainers as 2,073 stocks ended in the green, while shares of 1,210 companies settled with cuts. As many as 306 securities hit 52-week highs, mostly from the smallcap space. Meanwhile, 16 names hit 52-week lows, mostly from the microcap space. About 515 stocks hit upper circuit limits and 128 lower circuit limits.
