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| Sensex jumps nearly 800 points, tracking an increase in risk-taking trades broadly | | |  Indian equities rebounded to close higher on Tuesday after a two-session losing streak, driven primarily by an increase in risk-taking trades broadly on positive global cues.
The 30-share BSE Sensex index jumped nearly 800 points to around 57,356, while the broader NSE Nifty rose almost 1.5 per cent to about 17,200 on Tuesday, after both the indexes fell over 1 per cent in the previous session.
On Friday, the BSE Sensex had plunged 715 points or 1.23 per cent to close at 57,197, while the Nifty moved 221 points or 1.27 per cent lower to close at 17,172.
All major Nifty sub-indexes were trading in the green.
Among individual gainers, Mahindra CIE Automotive surged over 13 per cent after its net profit jumped to Rs 161.42 crore in the January-March quarter from Rs 10.09 crore in the same period a year ago.
But shares of Future Group companies tumbled again on Tuesday on concerns the group faces bankruptcy risks after the Rs 24,713-crore Reliance deal failed.
Indeed, on the BSE Sensex, Future Retail was down nearly 5 per cent after falling by as much in the previous session. Future Consumer crashed over 13 per cent after nose-diving nearly 20 per cent previously, and Future Enterprises declined almost 10 per cent, the same as on Monday.
Shares of Zee Learn on Tuesday tumbled about 20 per cent after Yes Bank Ltd moved National Company Law Tribunal (NCLT) seeking initiation of insolvency proceedings against the firm.
While Tuesday broadly saw a break in the bleak sentiment recently, the risks to global equities remain.
Global growth fears stoked by China's stringent COVID-19 curbs and an expected streak of aggressive US Federal Reserve tightening are likely to sap risk appetite and weigh on world equities.
The push up in the dollar's safe-haven appeal, which has rattled financial markets, is driven by the Fed's repeated signals for a very aggressive monetary policy path, with investors fretting that it could derail the nascent global economic recovery.
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STOCK UPDATE |
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CRICKET UPDATE |
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