Sensex Rises Over 250 Points As Markets Recover Early Losses

Domestic stock markets recovered early losses to move higher on Tuesday, led by a strong buying interest in IT and energy shares. The S&P BSE Sensex index jumped 261.6 points - or 0.68 per cent - to 38,678.83 at the strongest level recorded in mid-morning deals, and the broader NSE Nifty 50 benchmark climbed to as high as 11,419.65, up 64.6 points - or 0.57 per cent - from its previous close. However, selling pressure in metal and consumer goods shares kept the gain in check. (Track Sensex, Nifty LIVE)

At 10:39 am, the Sensex traded 252.72 points - or 0.66 per cent - higher at 38,669.95, while the Nifty was up 52.3 points - or 0.46 per cent - at 11,407.35. Both indices had changed direction at least five times following a positive opening.

Bharat Petroleum, Infosys, Wipro, Mahindra & Mahindra and Reliance Industries, trading between 1.51 per cent and 2.60 per cent higher, rose the most among the 23 gainers in the 50-scrip Nifty basket. On the other hand, Bharti Infratel, Zee Entertainment, Shree Cement, Kotak Mahindra Bank and ONGC, down between 0.78 per cent and 4.16 per cent each, were the top losers.

Reliance Industries and Infosys were the top boosts to Sensex, whereas Kotak Mahindra Bank and Bharti Airtel were the biggest drags.

The Nifty Bank index - comprising stocks of 12 major lenders in the country - was up 0.33 per cent at the time, having fluctuated between gains and losses earlier. Late on Monday, the Reserve Bank of India outlined guidelines for restructuring loans, as the banking sector braces for a surge in bad loans amid the COVID-19 crisis.

The NSE's India VIX index - which gauges the expectation of volatility in the near term - climbed up as much as 1.02 per cent.

Asian shares and US stock futures regained some footing on Tuesday following a small bounce in European markets as investors looked to whether US tech shares could recover from their recent rout.