Markets stage strong recovery, Sensex rebounds 453 points | Markets News

New Delhi: Markets staged strong recovery on Tuesday with Sensex zooming 453 points higher led by rally in IT and banking stocks.

The 30-share BSE index ended 452.73 points or 0.99 per cent higher at 46,006.69. On similar lines, the broader NSE Nifty climbed 137.90 points or 1.03 per cent to 13,466.30.

Major gainers in the Sensex pack were HCL Tech, Tech Mahindra, Infosys, Powergrid, Sun Pharma, Nestle, LT, Titan, Bharti Airtel, Asian Paint, TCS and Dr Reddy, rising upto 5.09 percent. On the other hand major losers were Kotak Bank, Bajaj Finance, HDFC, RIL and IndusInd Bank, falling upto 0.94 percent.

Oil prices dropped almost 2% on Tuesday to below $50 a barrel, a Reuters report said. Brent crude was down 72 cents, or 1.4% to $50.19 a barrel at 0915 GMT, while U.S. West Texas Intermediate (WTI) crude fell 76 cents, or 1.6%, to $47.21.

FTSE futures down 0.14% and E-mini futures for the S&P 500 index off 0.29%. Australia`s S&P/ASX 200 was 1.21% lower. Japan`s Nikkei 225 was down 0.77% in the afternoon session. MSCI`s gauge of Asia Pacific stocks outside Japan fell 0.75%. Hang Seng Index further slipped 0.63% and China`s benchmark CSI300 Index declined 0.35%, Reuters added.

The rupee meanwhile settled 5 paise lower at 73.84 (provisional) against the US dollar.

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