Markets Open Higher on Broad-Based Buying; Asian Indices Also Recover
Mumbai, April 8 — Indian stock markets staged a powerful comeback in early trade on Tuesday, reversing the steep losses from Monday’s sell-off, as investor sentiment improved across Asian peers and buying returned across sectors.The benchmark BSE Sensex soared 1,283.75 points, or 1.75%, to reach 74,421.65, while the NSE Nifty surged 415.95 points, or 1.87%, to touch 22,577.55 in early deals.
Broad-Based Rally Boosts Sentiment
All constituents of the 30-share Sensex were trading in the green, barring Tata Consultancy Services (TCS), which showed a marginal decline. Top gainers included Titan, Adani Ports, Bajaj Finserv, State Bank of India, Axis Bank, UltraTech Cement, Larsen & Toubro, and Tata Steel.The upbeat mood came after Monday’s mayhem that left investors rattled. The Sensex had plunged 2,226.79 points, or 2.95%, to close at 73,137.90. During the session, it had fallen as much as 3,939.68 points, or 5.22%, to hit a low of 71,425.01. The Nifty also dropped 742.85 points, or 3.24%, to end at 22,161.60, after an intra-day plunge of 1,160.8 points, or 5.06%, to 21,743.65.
Asian Markets Rebound, Nikkei Jumps Over 5%
Asian indices followed suit, recovering strongly after Monday's declines. Japan’s Nikkei 225 led the rally with a sharp gain of over 5%. Hong Kong’s Hang Seng, South Korea’s Kospi, and China’s Shanghai Composite Index were also trading in positive territory.Meanwhile, U.S. markets had closed mostly lower on Monday, adding to global market jitters.
