Value hunters bring indices back in green; Sensex gains 497 points

The market breadth was positive, with 2,239 stocks gaining against 1,095 stocks declining on the BSE

A day after they registered their sharpest decline in three weeks, the Indian benchmark indices made a smart recovery on Tuesday on the back of value-buying, positive global cues, and positive news on the efficacy of vaccines against the Omicron variant of coronavirus. But the sell-off pressure continued and the indices could not hold on to the intraday surge and pared more than half of the gains from the day’s high.

The benchmark Sensex ended the session at 56,319, up 497 points or 0.9 per cent. The Nifty, on the other hand, ended the session at 16,770.85, a gain of 156.6