The BSE Sensex was trading at 56,721 with a fall of over 315 points in opening deals on Tuesday, mainly led by buying in IT and FMCG stocks, despite a muted trend in global markets due to the Ukraine crisis.
With gains in morning trade, the 30-share Sensex opened on a positive note and consolidated its gains. It was quoted at 56,721.45, showing a gain of 315.61 points or 0.56%.
Similarly, the NSE barometer Nifty was trading 128 points or 0.76% higher at 16,970.80.
The Sensex was mainly driven by HUL, Wipro, Tech Mahindra, Titan and Infosys – with gains of up to 1.55%.
The BSE Sensex closed 1,747.08 points or 3% lower at 56,405.84 on Monday. This was the biggest drop in a day since February 26, 2021.
Similarly, the NSE Nifty fell 531.95 points or 3.06 per cent to 16,842.80, having closed below the key 17,000 level for the first time this year.
Investors lost over ₹2.38 lakh crore in the last two days.
“Markets – stocks, bonds, crude, gold – have become highly volatile on fears emanating from Russia-Ukraine tensions. Indian stock market, on the back of costlier price, corrected the most among emerging markets, with Sensex down 3 per cent yesterday ” VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Elsewhere in Asia, shares were trading with losses on fears of a possible Russian invasion of Ukraine. The US administration has warned Russia of dire consequences if it attacks Ukraine.
Global crude oil benchmark Brent futures fell 0.61% to $95.89 a barrel on Tuesday.
Foreign institutional investors (FIIs) were net sellers in the capital markets on Monday as they sold shares worth Rs 4,253.70 crore, according to stock exchange data.
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