Indian equity markets bounced back sharply on Tuesday after a volatile session, supported by strong buying in banking and metal stocks and renewed optimism following the India-European Union free trade agreement. A positive trend in global markets further aided investor confidence.
The 30-share BSE Sensex rose 319.78 points, or 0.39%, to close at 81,857.48. During the session, it touched an intra-day high of 82,084.92 and a low of 81,088.59. The NSE Nifty also ended higher, gaining 126.75 points, or 0.51%, to settle at 25,175.40.
Among Sensex stocks, Adani Ports, Axis Bank, Tata Steel, Tech Mahindra, NTPC, State Bank of India, UltraTech Cement and Bharat Electronics emerged as top gainers. Axis Bank jumped over 4% after reporting a 4% rise in December-quarter net profit to ₹7,010.65 crore.
However, Mahindra & Mahindra, Kotak Mahindra Bank, Asian Paints, Eternal and ITC lagged.
Investor sentiment was boosted after India and the EU announced the conclusion of their biggest-ever free trade agreement. Asian markets ended mostly higher, while European markets were mixed. Brent crude slipped slightly to $65.49 a barrel.
