Sensex, Nifty Rebound After Black Monday Crash | Indian Stock Market Recovers on Global Cues, Investor Buying

Sensex, Nifty Rebound After Black Monday Crash: Indian equity markets staged a powerful comeback on Tuesday, a day after undergoing the worst single-day slump in 10 months. This was made possible by wide-ranging value buying and the boost provided by positive global cues to investor sentiment.

The benchmark BSE Sensex rose by 1,089.18 points or 1.49 per cent at the close to 74,227.08, recovering much of Monday's hefty plunge. The index consisted of 30 shares, and at one point during that day, the stock had taken off as much as 1,721.49 points or 2.35 per cent to reach an intraday high value of 74,859.39.

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It caused the broader NSE Nifty also to get accustomed to 374.25 points or 1.69 per cent to contend at 22,535.85. In intraday trading, the index soared 535.6 points or 2.41 per cent to 22,697.20.

The Sensex had dived on Monday by 2,226.79 points (2.95 per cent) as the Nifty declined by 742.85 points (3.24 per cent) amid worldwide sell-offs from equities as recession fears resurfaced due to fresh tariff concerns from the US.

Tuesday saw all Sensex constituents in green with the exception of Power Grid. Top gainers included Titan, Bajaj Finance, State Bank of India, Larsen & Toubro, Axis Bank, Bajaj Finserv, Asian Paints and Zomato.

Supported by the global recovery, Asian and European indices have also gained ground on the market fence. As Japan's Nikkei 225 index hiked 6 per cent, Hong Kong's Hang Seng, South Korea's Kospi and China's Shanghai Composite also recorded higher closing levels after suffering a steep drop on Monday.

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European markets bid positively, which just added to the cheery mood back home.

The US markets ended much lower on Monday, mirroring the rather sorry state of extended investor concerns on trade tensions above.

As per the exchange data, Foreign Institutional Investors sold net worth Rs 9,040.01 crore on Monday. In contrast, Domestic Institutional Investors bought stocks worth Rs 12,122.45 crore.

A rebound signals a return of risk appetite among investors underpinned by bargain buying with no fresh visible negative cues globally.

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