The 30-share Sensex surged 1,736.21 points or 3.08 per cent to end at 58,142.05 – recouping the losses suffered on Monday. Likewise, the NSE Nifty soared 509.65 points or 3.03 per cent to settle at 17,352.45.
The 30-share Sensex nosedived 1,747.08 points or 3 per cent to settle at 56,405.84 and the broader Nifty plummeted 531.95 points or 3.06 per cent to 16,842.80.
LIC's listing is crucial for the government to meet the lowered revenue estimates of Rs 78,000 crore for the current financial year. The government had an initial target of Rs 1.75 lakh crore from the disinvestment proceeds.
Benchmark indices started the session weak as investors remained cautious assets ahead of RBI's policy meet. However, the selling pressure deepened in the afternoon trade, they added.
Equity benchmarks notched up solid gains on Tuesday ahead of the presentation of the Union Budget 2022-23.
Starting off on a high note, the 30-share index soared to trade briefly above the key 58,000-level in afternoon trade, before plunging to a low of 57,119.28. After fighting bouts of volatility towards the fag-end of the session, the index finally closed 76.71 points or 0.13 per cent lower at 57,200.23.
The 30-share BSE index ended 581.21 points or 1.00 per cent lower at 57,276.94. Similarly, the broader NSE Nifty plunged 167.80 points or 0.97 per cent to 17,110.15.
Benchmark indices started the session on a weaker note and the selling intensified during afternoon trade, with almost all sectoral indices ending in the red.
Starting off on a positive note, the 30-share BSE benchmark hit the day's high of 60,427.36, before ending at 60,395.63, higher by 650.98 points or 1.09 per cent.
On a weekly basis, FCAs, the largest component of the forex reserves, edged lower by $1.480 billion to $569.889 billion.
The 30-share index ended 142.81 points or 0.24 per cent higher at 59,744.65. Similarly, the NSE Nifty rose 66.80 points or 0.38 per cent to close at 17,812.70.
The yearly gain of the index is 10,502.49 points or 21.99 percent.
Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo ended on a positive note. Stock exchanges in Europe were also largely trading with gains in mid-session deals.
After rebounding over 960 points from the day’s low during the session, the 30-share index settled 295.93 points or 0.52 per cent higher at 57,420.24. Similarly, the Nifty recovered 82.50 points or 0.49 per cent to 17,086.25.
After a choppy session, the 30-share index ended 190.97 points or 0.33 per cent lower at 57,124.31. Similarly, the NSE Nifty declined 68.85 points or 0.40 per cent to 17,003.75.
According to experts, exploding COVID-19 cases, sustained selling by foreign institutional investors and slowing growth momentum in the developed economies have spooked markets the world over.
Equity benchmark Sensex plummeted over 1,100 points on Monday to end below 56,000.
Meanwhile, international oil benchmark Brent crude firmed up 0.97 percent to USD 74.60 per barrel. The rupee recovered 23 paise to close at 76.09 against the US dollar on Thursday.
The 30-share index slumped 356.6 points or 0.61 per cent to 57,926.82 in the opening trade. Similarly, the Nifty fell 98.35 points or 0.57 per cent to 17,269.90.
The 30-share index slumped 503.25 points or 0.86 per cent to settle at 58,283.42. Similarly, the NSE Nifty fell 143.05 points or 0.82 per cent to 17,368.25.
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