India's key equity indices -- S&P BSE Sensex and NSE Nifty50 -- rebounded during Tuesday's mid-afternoon trade session as healthy buying was witnessed in realty sector.
During the initial trading hours, both the indices opened flat but rose thereafter only to cede all their gains. Nevertheless, the key indices have witnessed a recovery.
Globally, Asian markets dipped from opening levels as fresh worries about China's property sector weighed on investors' sentiments post a good opening following gains on the wall street.
Besides, European stock markets climbed higher. On the domestic front, volumes were in line with recent averages. All sectors traded in the green with Realty and Consumer Durables gaining the most.
Consequently, the 30-scrip Sensex closed at 61,295.97 points, up 328.92 points, or 0.54 per cent. Similarly, the NSE Nifty50 ended the day's trade higher. It rose to 18,243.65, up 118.25 points, or 0.65 per cent.
"Nifty after some intra day volatility may end up in the positive," said Deepak Jasani, Head of Retail Research, HDFC Securities.
According to Likhita Chepa, Senior Research Analyst at CapitalVia Global Research: "Our research suggests that 60,400 levels will act as immedia te support level. we can expect the market to trade in the range of 60,400-6 1,400.
"Traders will be cautiousness with the report that Foreign Institutional Investors (FII) have net sellers of domestic stocks for five consecutive days."
Monday's Closure Roundup
Both indices made gains on Monday on the back of healthy buying in banking stocks, as well as, better-than-expected quarterly results. Accordingly the indices broke their four-session losing streak and ended marginally in the green.
Initially, the two key indices had a flat opening but witnessed a strong recovery.
On the global front, stocks held their ground after eight consecutive sessions of gains, as traders weighed the prospects of strong corporate earnings in the backdrop of widening inflation risks from multi-year high crude oil prices.
In terms of domestic market, volumes on the NSE were a little higher than the previous day, bank index was the largest gainer while realty, auto, IT, consumer durables, telecom and FMCG lost the most.
Consequently, the 30-scrip Sensex closed at 60,967.05 points, up 145.43 points, or 0.24 per cent. The Sensex opened at 61,398.75 points from its previous close of 60,821.62 points.
Similarly, the NSE Nifty50 ended the day's trade higher. It rose to 18,125.40, up 10.50 points, or 0.058 per cent. It opened at 18,229.50 points from its previous close of 18,114.90 points.