Benchmark market indices Sensex and Nifty turned around to end Tuesday trading in the green, mirroring global trends in the rest of Asia and Europe.
After US Treasury Secretary Scott Bessent announced fresh sanctions against Iran and threatened retaliation against nations doing business with the Islamic Republic, oil prices fell.
The Sensex and Nifty, despite opening higher, fell in the morning session, but turned around by 2pm. The BSE 30-pack recovered from a day's low of 77,125.91 to close at a high of 77,656.09. The NSE 50-share index, on its expiry day, recovered from an intraday low of 24,115,45 to close at a high of 24,334.55.
Among the Sensex, IndiGo, Adani Ports, Infosys, Trent, Titan, SBI, Mahindra, L&T, Tech Mahindra, and ITC were the top ten gainers. There were only six laggards: Eternal, HCL Tech, Powergrid, Bajaj Finserv, HDFC Bank, and Hindustan Unilever.
Overall, this meant that the Sensex closed almost 287 points higher and the Nifty more than 115 points higher than the previous close.
In other Asian markets, Kospi in South Korea moved almost like India after reversing early losses. The market saw investors buy more tech shares later in the day. Japan's Nikkei and China's Shanghai Composite index also gained.
The US bond market easing on Monday led to stocks getting more headroom, adding to the overall global sentiment.
