Sensex rebounds 453 points; Nifty breaks 13,460 mark

Mumbai: The Sensex made an emphatic comeback on Tuesday following the previous session's massive selloff, as European markets reversed losses amid expectations that the COVID-19 vaccines will be effective against a new virus strain in the UK.

IT stocks led the recovery on Dalal Street, with pharma and select banking stocks also witnessing robust demand.

After gyrating 968 points in a volatile session, the 30-share BSE Sensex ended 452.73 points or 0.99 per cent higher at 46,006.69.

On similar lines, the broader NSE Nifty climbed 137.90 points or 1.03 per cent to 13,466.30.

HCL Tech was the top gainer among the Sensex companies, rallying 5.09 per cent, followed by Tech Mahindra, Infosys, PowerGrid, Sun Pharma, Nestle India and L&T.

Only five index constituents finished in the red -- Kotak Bank, Bajaj Finance, HDFC, RIL and IndusInd Bank, which slipped up to 0.94 per cent.

The variant, detected mainly in London and the southeast of England in recent weeks, has sparked concern worldwide because of signs that it may spread more easily.

While there is no indication it causes more serious illness, numerous countries in Europe and beyond have restricted travel from the UK as a result.

All sectoral indices ended on a positive note, with BSE IT, teck, utilities, telecom, metal, healthcare and power rallying as much as 3.37 per cent.

Broader BSE midcap and smallcap indices rose up to 1.09 per cent.

Elsewhere in Asia, bourses in Shanghai, Seoul, Hong Kong and Tokyo ended in the red.

Meanwhile, the global oil benchmark Brent crude futures slipped 1.67 per cent to $50.06 per barrel.

The rupee pared most of its initial losses and settled for the day 5 paise lower at 73.84 against the US dollar.