Stock markets bounce back after falling in early trade amid global tensions

Sensex rise 192.14 points to 75,696.83. Representational Pic

Equity benchmark indices - BSE Sensex and NSE Nifty - bounced back after slipping in early trade on Tuesday, tracking a bullish trend in global markets.

The 30-share Sensex initially dropped 144.34 points to 75,358.51, while the 50-share Nifty declined 49.95 points to 23,358.85. However, both indices soon recovered, with the Sensex rising 192.14 points to 75,696.83 and the Nifty gaining 64.25 points to trade at 23,473.05.

Among Sensex constituents, Eternal, Mahindra & Mahindra, Maruti, Tata Steel, InterGlobe Aviation and Bharti Airtel were the major gainers. On the other hand, Infosys, HCL Tech, Tata Consultancy Services, Tech Mahindra and State Bank of India were among the top laggards.

Meanwhile, Brent crude surged 2.61 per cent to USD 102.8 per barrel.

According to exchange data, Foreign Institutional Investors (FIIs) offloaded equities worth Rs 9,365.52 crore on Monday, while Domestic Institutional Investors (DIIs) purchased stocks worth Rs 12,593.36 crore.

In Asian markets, South Korea's Kospi, Japan's Nikkei 225 and Hong Kong's Hang Seng were trading in positive territory, while China's Shanghai SSE Composite index was lower. The US markets also ended higher on Monday.

VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, said that ongoing uncertainty surrounding the war continues to reflect in market trends. He noted that Monday's sharp Nifty rebound of 257 points was largely driven by short-covering from oversold levels and may not sustain amid heavy FII selling.

On Monday, the Sensex surged 938.93 points (1.26 per cent) to close at 75,502.85, while the Nifty gained 257.70 points (1.11%) to settle at 23,408.80.

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