NEW DELHI: Domestic equity market closed with decent gain on Tuesday on the back of positive global cues and reports of China relaxing its pandemic-related restrictions further boosted sentiments.
After initial volatility, the BSE benchmark Sensex dipped to a low of 60,406, and closed 361 points higher at 60,927. Sensex has now gained 1,082 points in the last two trading sessions. The broader NSE Nifty 50 index surged 117 points to settle at 18,132.
“Recovery in the global indices, especially in the US, is offering the respite in absence of any major domestic trigger. The recent buoyancy in the banking pack combined with a recovery in the select index majors is encouraging,” said Ajit Mishra, VP - technical research, Religare Broking.
He, however, added that Nifty has multiple hurdles to cross before resuming the uptrend. “We thus reiterate our view to focus on stock-specific opportunities and maintaining positions on both sides.”
Most sectors participated in the gain on Tuesday wherein the metal outshined the others as it gained over 4%.