MUMBAI, April 8:– Stock markets staged a sharp rebound in early trade on Tuesday, recovering from Monday’s steep losses as Asian peers bounced back and domestic institutional buying lifted investor sentiment.
The BSE Sensex surged 1,283.75 points, or 1.75%, to 74,421.65, while the NSE Nifty climbed 415.95 points, or 1.87%, to 22,577.55.
Except for Tata Consultancy Services, all Sensex constituents were trading in the green. Leading gainers included Titan, Adani Ports, Bajaj Finserv, State Bank of India, Axis Bank, UltraTech Cement, Larsen & Toubro, and Tata Steel.
Asian indices also recovered after Monday’s sell-off. Japan’s Nikkei 225 jumped over 5%, while Hong Kong’s Hang Seng, South Korea’s Kospi, and China’s Shanghai Composite posted gains. US markets, however, ended mostly lower on Monday.
“The market appears to be regaining footing after the global panic yesterday, aided by buying across sectors and supportive cues from Asia,” said a Mumbai-based analyst.
Market experts warned that volatility may persist as trade tensions escalate. A potential 50% US tariff against China’s retaliatory 34% import duties has raised fresh concerns over global trade dynamics.
Meanwhile, Brent crude oil rose 1.32% to $65.06 a barrel, reflecting tightening supply sentiment.
Exchange data showed Foreign Institutional Investors (FIIs) sold equities worth Rs 9,040.01 crore on Monday, while Domestic Institutional Investors (DIIs) bought shares worth Rs 12,122.45 crore.
On Monday, the Sensex had plunged 2,226.79 points, or 2.95%, to close at 73,137.90, after briefly dropping over 3,900 points during intra-day trade. The Nifty lost 742.85 points, or 3.24%, to settle at 22,161.60.
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