Benchmark indices Sensex and Nifty rebounded in early trade on Tuesday in-tandem with a recovery in global equity markets and easing of hostilities between Israel and Iran.
After falling sharply in the previous trade, the 30-share BSE Sensex climbed 350.57 points to 73,874.83 during early deals. The 50-share NSE Nifty went up by 114.50 points to 23,237.50.
From the 30-Sensex firms, Trent, ICICI Bank, InterGlobe Aviation, Axis Bank, Mahindra & Mahindra and Bajaj Finserv were among the major winners.
NTPC, Tata Steel, Infosys, Power Grid and Tech Mahindra were among the laggards.
Brent crude, the global oil benchmark, traded 1.15 per cent lower at USD 93.17 per barrel.
"Crude oil prices have stabilised following the easing of hostilities between Israel and Iran, offering some relief to energy markets. However, prices remain elevated, with crude trading in the USD 90–91 per barrel range, keeping concerns around inflation, import costs and the broader macroeconomic outlook firmly in focus," Ponmudi R, CEO of Enrich Money, an online trading and wealth-tech firm, said, In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index and Shanghai's SSE Composite index rebounded and were trading higher, while Hong Kong's Hang Seng index quoted marginally lower.
US markets ended mostly higher on Monday.
"US markets managed to recover from last week's technology-led sell-off, with the S&P 500 and Nasdaq ending higher as semiconductor stocks staged a rebound. Investor sentiment was also supported by hopes that geopolitical tensions in the Middle East may not escalate further after efforts to maintain a fragile ceasefire between Iran and Israel," Hariprasad K, Research Analyst and Founder, Livelong Wealth, said.
Asian markets are showing signs of stabilisation after Monday's sharp correction, he added.
Meanwhile, Foreign Institutional Investors (FIIs) offloaded equities worth Rs 5,555.67 crore on Monday, according to exchange data.
On Monday, the Sensex tumbled 719.08 points, or 0.97 per cent, to settle at 73,524.26. The Nifty settled 243.70 points, or 1.04 per cent, lower at 23,123.
