After experiencing a severe blow on Monday at the Dalal Street, the benchmark BSE index Sensex staged a smart comeback in late trade on Tuesday and rebounded 291 points on positive hopes — strong gains in European markets and value buying. The Rupee also appreciated by 55 Paise, which is the biggest single-day gain in over seven months, to close at 66.10 against the Dollar on heavy selling of the greenback by exporters and banks.
The Sensex started the session higher, hitting a high of 26,124.83, but fell due to the selling pressure, as China equities lost over 7 per cent. Finally, it ended the day higher by 290.82 points, or 1.13 per cent, at 26,032.38. In the previous three sessions, the index lost 2,190.08, including Monday’s biggest-ever fall of 1.624.51 points. Brokers believe that strong gains in European markets and buying at lower levels helped Indian markets recover. “The Government’s firm steps to revive the market also boosted the market sentiment when it said it was considering reconvening a special Session of Parliament for passage of the GST Bill,” they said.
The broad-based NSE Nifty too covered some lost ground, up 71.70 points, or 0.92 per cent, to end the day at 7,880.70. Intra-day, it moved between a high of 7,925.40 and a low of 7,667.25.