Mumbai: Market benchmarks ratcheted higher in a see-saw session on Tuesday after four days of steep declines as investors accumulated recently-battered IT, pharma and finance stocks even as the Ukraine crisis remained an overhang.
World equities were mixed as participants tracked Russia's intensifying attack on Ukraine and the cascade of sanctions against Moscow.
Investors' wealth on Tuesday jumped by over Rs 2.51 lakh crore, in tandem with a sharp recovery in equities after four days of heavy declines.
The 30-share BSE Sensex opened on a weak note and tumbled 581.93 points or 1.10 per cent to 52,260.82 during the day amid firming oil prices and relentless selling by foreign institutional investors.
Overcoming bouts of volatility, the index gained momentum in the last hour of trade to close 581.34 points or 1.10 per cent higher at 53,424.09.
On similar lines, the broader NSE Nifty darted up 150.30 points or 0.95 per cent to 16,013.45.
Sun Pharma topped the Sensex gainers' chart with a jump of 3.99 per cent, followed by TCS, NTPC, Wipro, Tech Mahindra, Dr Reddy's, UltraTech Cement and Infosys.
In contrast, Tata Steel, PowerGrid, Titan, Nestle India, Reliance Industries and SBI closed with losses of up to 1.73 per cent.
In the broader market, the BSE midcap index gained 1.46 per cent and the smallcap gauge jumped 1.33 per cent.
Meanwhile, international oil benchmark Brent crude jumped 2.87 per cent to $126.6 a barrel.
Among BSE sectoral indices, realty, IT, Teck and healthcare were the biggest gainers, climbing as much as 3.19 per cent.
The rupee slipped 6 paise to close at 76.99 against the US dollar on Tuesday amid a weak greenback overseas.
Foreign institutional investors continued their selling spree in Indian markets as they offloaded shares worth Rs 7,482.08 crore on a net basis on Monday, according to
exchange data.