The BSE gauge Sensex recovered over 315 points to trade at 56,721 in opening deals on Tuesday, on emergence of buying mainly in IT and FMCG stocks, despite a lacklustre trend in global markets due to the Ukraine crisis.
The 30-share Sensex opened on a positive note and firmed up its gains as the morning trade progressed. It was quoted at 56,721.45, showing a gain of 315.61 points or 0.56%.
Likewise, the NSE barometer Nifty was trading 128 points or 0.76% higher at 16,970.80.
The Sensex was mainly driven by HUL, Wipro, Tech Mahindra, Titan and Infosys – with gains of up to 1.55%.
The BSE Sensex on Monday nosedived 1,747.08 points or 3% to settle at 56,405.84. This was its biggest single-day drop since February 26, 2021.
On similar lines, the NSE Nifty had plummeted 531.95 points or 3.06 per cent to 16,842.80, closing below the key 17,000-level for the first time this year.
Investors lost more than ₹2.38 lakh crore in the previous two days.
"Markets - stocks, bonds, crude, gold - have turned highly volatile on fears arising from the Russia-Ukraine tensions. The Indian stock market, being expensively valued, corrected the most among emerging markets with Sensex declining 3 per cent yesterday," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Elsewhere in Asia, bourses were trading with losses on fears of a potential Russian invasion of Ukraine. The US administration has warned Russia of severe consequences in case its forces attack Ukraine.
Global crude oil benchmark Brent Futures fell 0.61% to $95.89 per barrel on Tuesday.
Foreign institutional investors (FIIs) were net sellers in the capital market on Monday, as they offloaded shares worth ₹4,253.70 crore, according to stock exchange data.
