The Sensex made an emphatic comeback on Tuesday following the previous session’s massive selloff, as European markets reversed losses amid expectations that the Covid-19 vaccines will be effective against a new virus strain in the UK.
IT stocks led the recovery on Dalal Street, with pharma and select banking stocks also witnessing robust demand.
After gyrating 968 points in a volatile session, the 30-share BSE Sensex ended 452.73 points or 0.99 per cent higher at 46,006.69.
On similar lines, the broader NSE Nifty climbed 137.90 points or 1.03 per cent to 13,466.30. HCL Tech was the top gainer among the Sensex companies, rallying 5.09 per cent, followed by Tech Mahindra, Infosys, PowerGrid, Sun Pharma, Nestle India and L&T.
Only five index constituents finished in the red -- Kotak Bank, Bajaj Finance, HDFC, RIL and IndusInd Bank, which slipped up to 0.94 per cent. European markets witnessed a sharp recovery after German pharmaceutical company BioNTech said it was confident that its coronavirus vaccine would work against the new UK variant.The variant, detected mainly in London and the southeast of England in recent weeks, has sparked concern worldwide because of signs that it may spread more easily.