The Indian equity markets showed signs of recovery on Tuesday, with the Sensex and Nifty both posting gains after a sharp decline on Monday. The Sensex rose by 0.31% to 78,210.06, while the Nifty 50 advanced by 0.43% to 23,718.50. Leading the gains were stocks in the oil and gas sector, with ONGC surging 3.96% and Tata Consumer Products rising 2.44%. Banking stocks also showed strength, with IndusInd Bank climbing 2.08%.
Despite the overall positive sentiment in the market, IT stocks faced selling pressure, with sector majors like TCS and HCL Technologies recording significant losses. The banking sector, on the other hand, showed resilience, with the Nifty Bank index gaining 0.88% and the Nifty Financial Services index rising 0.67%.
The market recovery on Tuesday came after concerns over the HMPV outbreak and FII outflows triggered a sharp fall on Monday. The session saw active market participation, with 3,973 stocks being traded on the BSE. Looking ahead, traders will be watching for global cues and upcoming U.S. economic data releases.
Overall, the market sentiment remains positive, with the broader market participation also showing strength. The recovery in the equity markets on Tuesday provides some relief to investors after the previous day’s steep decline.
