Markets recover amid easing US-Iran tensions

Mumbai: Indian bourses too staged a recovery after two sessions of sharp losses on Tuesday, following somewhat calmed global markets as no further escalation in US-Iran tussle soothed investor nerves.

At the closing bell, the BSE benchmark Sensex was 192.84 points or 0.47 per cent higher at 40,869.47. After opening the session on a bullish note, the 30-share gauge went on to touch a high of 41,230.14 in early deals -- rallying over 553 points during the session. Likewise, the broader Nifty closed 59.90 points or 0.50 per cent up at 12,052.95.

On Monday, the domestic stock market had suffered its worst single-day loss in about six months. Signs of easing Iran-US tensions helped moderate global crude oil prices, in result prompting the Indian rupee to gain some lost ground.

Sectorally, BSE realty, basic materials, energy, finance and metal indices rose up to 1.83 per cent; while telecom, teck, IT and consumer durables indices slipped up to 0.97 per cent.

In the broader market, BSE midcap and smallcap indices rallied up to 0.99 per cent. Brent crude oil futures fell by nearly 0.26 per cent to $68.73. The Indian rupee appreciated by 11 paise to 71.82 against the $ on Tuesday.

Bourses in Shanghai, Hong Kong, Tokyo and Seoul ended significantly higher.

Investors, however, turned cautious ahead of the release the first advance estimates of the GDP for FY20 scheduled to be released later in the day.