On the NSE, the benchmark Nifty ended at 9,380.90, up 99 points or 1 per cent. Volatility index India VIX declined 7.6 per cent to 35.14 levels.
Among individual stocks, shares of IndusInd Bank
surged 18.05 per cent intra-day, to hit a high of Rs 480.9, on the BSE after brokerages maintained 'buy' call
on the stock due to its better-than-expected operationally strong March quarter performance. The stock eventually ended at Rs 468.90, up 15 per cent. On the NSE, it ended at Rs 476.95, up 17 per cent.
Shares of Max Financial Services and Axis Bank traded higher after the private sector lender said it would acquire an additional 29 per cent stake in Max Life Insurance. Max Financial Services, Max Life's parent company, will hold the remaining 70 per cent in the joint venture. At close, Max Financial Services stood at Rs 475.80, up over 5 per cent while Axis Bank ended over 6.6 per cent higher at Rs 455.55 apiece on the BSE. READ MORE
Shares of Just Dial rallied over 11 per cent to Rs 388 on the BSE after the company announced that it will consider share buyback proposal on Thursday. READ MORE
On the sectoral front, Nifty Private Bank index gained the most - up 3.56 per cent to
11,243.55 levels while Nifty Pharma fell the most - down over 2 per cent to 9,386.20 levels.
In the broader market, the
S&P BSE MidCap index gained 0.8 per cent to 11,723 while the S&P BSE SmallCap index ended at 10,862.54, up 0.77 per cent.
Oil prices plunged for a second day in a row on Tuesday on concerns about dwindling global capacity to store more crude and fears that demand may be slow to recover even after countries ease restrictions to combat the coronavirus
Brent crude fell 83 cents, or 4.1 per cent, to $19.16 a barrel at the time of writing of this report, following a 6.8 per cent slide on Monday.
US West Texas Intermediate (WTI) crude was down $2.57, or 20 per cent, at $10.21 a barrel. The contract plunged 25 per cent on Monday.
In stock markets, European shares hovered near two-week highs as a slate of strong earnings reports from companies, including Novartis and UBS, outweighed a slump in oil prices and shares of Wirecard.
In Asia, China’s blue-chip and start-up shares inched up after fresh regulatory reform cheered the market, but the main Shanghai benchmark slipped as big banks lined up their earnings following a tumultuous first quarter. Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.4 per cent, while Japan’s Nikkei index closed down 0.1 per cent.
(With inputs from Reuters)