- Unkindest cut since 2020: mid, small-cap cut-off drops to its lowest
- Small-cap indices witness sharp correction from the highs of October 2021
- US dollar weakens against euro, sterling in quiet trading session
- Sebi asks bourses, depositories to launch online complaint redressal system
- Global stocks rise in holiday mood on resilient oil; Nikkei up 0.84%
- IndiaMART InterMESH hits 52-week low; stock slips 43% in six months
- TVS Motor may soon cross Rs 1,000-mark; chart strongly in favour of bulls
- ITC hits highest level since May 2019; stock soars 10% in 6 days
- Fight for cabin crew, firm ATF prices to aggravate airlines' pain: Analysts
- Ahead of Q1 results: Sell-off in IT stocks not over yet; TCS can fall 14%
MARKET WRAP: Sensex snaps 7-day losing streak, gains 480 pts; metals shine
All that happened in markets today
After seven consecutive sessions of sell-off, equity market found some solace on Tuesday as positive global cues and hopes of stimulus to mitigate the economic impact of the coronavirus outbreak helped benchmark indices settle in the green.
The S&P BSE Sensex rallied 480 points or 1.26 per cent to settle at 38,623.70 while NSE's Nifty50 ended at 11,303, up 170.5 points or 1.53 per cent. Drug major Sun Pharma ended as the biggest gainer on the Sensex with over 6.5 per cent gains. Tata Steel, ONGC and UltraTech Cement were the other top gainers on the index.
In the broader market, the S&P BSE MidCap index gained 259 points or 1.79 per cent to 4,764 while the S&P BSE SmallCap index surged 170 points or 1.25 per cent to end at 13,774 points.
Volatility index India VIX declined 2.6 per cent to 24.54 levels.
Sectorally, metal and pharma stocks gained the most. Nifty Metal index climbed 5.6 per cent to 2,321 levels while Nifty Pharma index ended at 7,921, up over 5 per cent. That said, all the sectoral indices on the NSE ended in the positive zone.
Global shares and oil prices extended their rebound on Tuesday as policymakers indicated their willingness to move to ease the economic fallout from the coronavirus, while investors waited for a conference call by Group of Seven heads for trading cues. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 1.4 per cent. Japan’s Nikkei lost steam and fell 0.7 per cent after short-covering ran its course and as the yen firmed on the dollar.
Oil prices bounced back further after a jump of more than 4 per cent on Monday, reversing an early decline to multi-year lows.
(With inputs from Reuters)