Key benchmark stock indices on Tuesday rose more than 1.8% on sliding commodity prices and absence of fresh selling triggers.
The S&P BSE Sensex surged 934.23 points, or 1.81%, to 52,532.07 points amid fresh buying at low levels. The Sensex stocks which gained the most included Titan (5.92%), State Bank (3.79%), TCS, (3.17%), Dr Reddy’s (2.84%), HCL Tech (2.81) and Tata Steel (2.68%).
The NSE Nifty-50 index rose 288.65 points, or 1.88%, to 15,638.80.
“Absence of fresh selling triggers in the domestic and global economy along with falling commodity prices relieved the heavily discounted equity market, to showcase recovery,” said Vinod Nair, Head of Research at Geojit Financial Services.
“The recovery indicates that the current uncertainties of inflation and monetary policy tightening have been factored in. However, with the highly sensitive nature of the current equity market, even the slightest inconvenience can trigger volatility,” he added.
