Markets recover from slump as Sensex, Nifty rise

Posted on by KNBT

NEW DELHI: Equity markets on Tuesday recovered ground in morning trade with benchmark indices Sensex and Nifty making handsome gains.

The 30-share BSE index rose more than 100 points to open at 37,749.59 and extended gains to regain the 37,800-mark in morning trade. At 9.30 am, the index was testing the psychological mark.

The broader 50-share NSE index was also hovering around a key mark — that of 11,400, having opened at 11,380-levels.

The Street got a raw deal on Monday as the Turkish currency lira extended its free fall following doubling of import tariffs on certain products by the US. As a result, Sensex shed upto 300 points on Monday’s intra-day trade and rupee hit an all-time low of 69.93.

On Tuesday, all the sectoral sub-indices were gaining with the Nifty Metal gauge rallying the most at 0.70 per cent.

Private sector bank stocks like Yes Bank, ICICI Bank and Axis Bank stocks were gaining the most.

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