Markets rebounded over 173 points on Tuesday amid domestic institutional investors (DIIs) investing heavily into metal, auto and oil & gas stocks, and rupee recovering 67.99 against dollar. The BSE Sensex ended at 26899.56, gaining 173.01 points, or 0.65%. On the other hand, Nifty inched up 52.55 points, or 0.64% closing at 8288.60.
Most of the sectoral indices on the NSE ended in the green with metals and FMCG stocks leading the pack.
Barring realty sector, auto, banks, industrials, metal, capital goods and consumer durables, witnessed buying by DIIs. While DIIs were net buyers who bought shares worth Rs 96.82 crore, foreign portfolio investments offloaded shares amounting to Rs 325.10 crore, provisional data showed.
Under the currency-ban effect, monthly automobile sales-growth rate in India, slipped to a 16-year-low in December with total vehicle sales declining 18.66%. Tata Motors surged 2.99% after reports of 12% increase in the retail sales of its Jaguar Land Rover.
However, concerns prevailed ahead of earnings season and macroeconomic data, to be released later this week. Furthermore, rupee recovering against the dollar to 67.99 (intra-day) also influenced sentiment.
Finance minister Arun Jaitley on Monday said tax collection has grown at a decent pace.