Indian equity benchmarks staged a strong late-session recovery on Tuesday to end in positive territory, reversing losses from earlier in the day as heavyweight information technology stocks sparked broad market buying.
The BSE Sensex climbed 382.50 points, or 0.52 per cent, to settle at 74,649.84, while the NSE Nifty 50 advanced 100.95 points, or 0.43 per cent, to close at 23,483.55.
Markets remained under pressure for most of the trading session, with the Nifty opening lower and testing a key support level before witnessing a steady rebound in the second half of the day. The recovery helped the benchmark close comfortably above the 23,480 mark.
The rally was driven primarily by the IT sector, with the Nifty IT index surging 4.3 per cent and significantly outperforming the broader market. Major technology stocks including Tata Consultancy Services, Infosys, HCL Technologies and Tech Mahindra emerged among the top gainers on the Nifty.
The Indian rupee weakened slightly to around Rs 95.1 against the US dollar, retreating from recent highs and providing additional support to software exporters.
Apart from IT, buying interest was also visible in PSU banking, automobile, metal, consumer durable and real estate stocks, with sectoral indices gaining between 0.5 and 1 per cent.
Broader markets also participated in the recovery. The Nifty Midcap 100 index rose 0.2 per cent, while the Nifty Smallcap 100 gained 0.4 per cent. Out of the Nifty 500 stocks, around 300 ended the session in positive territory.
Meanwhile, the India VIX, often referred to as the market’s fear gauge, declined by more than 7 per cent, indicating easing volatility and improved investor confidence.
On the commodities front, crude oil prices remained elevated despite moderating from recent highs amid ongoing geopolitical tensions in the Middle East. Brent crude traded at USD 93.53 per barrel, while US West Texas Intermediate crude stood at USD 90.91 per barrel.
