Stock markets recover after two days of fall; banking shares lead gains

Mumbai: Benchmark stock indices Sensex and Nifty rebounded on Tuesday after two straight days of steep decline driven by intense buying in banking and rate-sensitive stocks as the RBI decided to inject liquidity into the financial system.

The 30-share Sensex climbed 535.24 points or 0.71 per cent to settle at 75,901.41. During the day, the benchmark surged 1,146.79 points or 1.52 per cent to hit a high of 76,512.96.

The broader 50-share NSE Nifty appreciated by 128.10 points or 0.56 per cent to close at 22,957.25. In the intraday session, the 50-share NSE Nifty climbed 308.8 points or 1.35 per cent to 23,137.95.

Among the Sensex shares, Bajaj Finance, Axis Bank, Bajaj Finserv, HDFC Bank, Tata Motors, Tata Steel, ICICI Bank, Mahindra & Mahindra, Zomato, IndusInd Bank, Maruti Suzuki India and Bharti Airtel were the major gainers.

Sun Pharmaceutical, Larsen & Toubro, ITC, HCL Technologies, NTPC, Power Grid, Nestle India, Tata Consultancy Services, and Asian Paints were among the laggards.

In Asian markets, Tokyo ended in the negative territory and Hong Kong in the green. Meanwhile, markets in Seoul and Shanghai were closed for the holidays.

European markets traded higher in the early session with Britain's FTSE 100 rising 0.55 per cent, Germany's DAX by 0.44 per cent, and the CAC 40 in Paris by 0.33 per cent.

US markets ended lower on Monday.

Global oil benchmark Brent crude went up 0.62 per cent to $77.56 a barrel.

On Monday, the 30-share BSE barometer plunged by 824.29 points to close at 75,366.17, while the broader 50-share Nifty dropped by 263.05 points to close at 22,829.15.