Sensex, Nifty Rebound As RBI Moves To Mitigate Liquidity Crunch
(RTTNews) - Indian shares recovered some ground on Tuesday after two straight sessions of losses following escalating tariff threats from U.S. President Donald Trump and amid concerns over a Chinese AI startup's apparent advances in the artificial intelligence sector.
Rate-sensitive banks, auto and realty stocks led the surge after the Reserve Bank of India (RBI) announced several measures that will help inject over INR 1 trillion liquidity into the banking system, a move many observers interpreted as paving the way for policy easing on February 7.
The benchmark S&P/BSE Sensex hit an intraday high of 76,512.96 before paring some gains to end the session up 535.24 points, or 0.71 percent, at 75,901.41.
The broader NSE Nifty index closed up 128.10 points, or 0.56 percent, at 22,957.25, after hitting a high of 23,137.95 earlier in the session.
The mid-cap and small-cap indexes on the BSE rose by 0.6 percent and 1.8 percent, respectively.
The market breadth was negative on the BSE. 2,695 shares declined while 1,265 shares advanced and 117 closed unchanged.
Among the top gainers, HDFC Bank, Bajaj FinServ, Shriram Finance, Axis Bank and Bajaj Finance rallied 3-4 percent.
Sun Pharma led losses to close 4.2 percent lower while BEL, Grasim, Hindalco and Britannia Industries all fell around 2 percent.
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