Equity benchmark indices Sensex and Nifty rebounded in early trade on Tuesday, tracking a recovery in global markets. The 30-share BSE Sensex climbed 350.57 points to 73,874.83 during early deals. The 50-share NSE Nifty went up by 114.50 points to 23,237.50.
Market analysts attributed the rebound to positive cues from global markets, which recovered after recent declines. Investors also remained cautious ahead of key economic data releases later this week.
Global Markets Support
Asian markets traded higher on Tuesday, mirroring gains on Wall Street overnight. The positive sentiment spilled over into Indian markets, helping the indices recover from recent losses. The recovery was broad-based, with gains in banking, IT, and metal stocks.
Among the Sensex constituents, HDFC Bank, Reliance Industries, ICICI Bank, and Infosys were among the top gainers. The broader market also witnessed buying interest, with the BSE Midcap and Smallcap indices rising in line with the benchmarks.
Market Outlook
Analysts expect volatility to persist in the near term due to global uncertainties and domestic factors. However, the underlying trend remains positive, supported by strong fundamentals and robust earnings growth. Investors are advised to focus on quality stocks and maintain a long-term perspective.
The Indian rupee also strengthened against the US dollar in early trade, reflecting improved risk appetite. Bond yields remained stable as traders awaited further clarity on monetary policy.
