Markets rebound as Omicron fears ease; FPIs remain net sellers

While global equity markets rallied, other asset classes held steady. Gold, treasury, and dollar saw little change

India’s benchmark indices rebounded from their three-month lows on Tuesday on hopes that the Omicron variant of coronavirus would likely cause only mild illness and prove less damaging to the economy.

The Sensex closed at 57,633, up 886.5 points, or 1.56 per cent -- the most since September 23. In intra-day trade, the index was up as much as 1,158 points, or 2.04 per cent. The Nifty50 index, on the other hand, ended the session at 17,146, up 233.6 points, or 1.38 per cent -- the most since November 1. In the previous session, both the indices had closed at their