Sensex rebounds over 450 points; Nifty above 12,100

NEW DELHI: Equity indices rebounded on Tuesday a day after witnessing steep losses amid Iran-US tensions. The benchmark BSE sensex surged 454 points or 1.12 per cent to 41,131; while the broader NSE Nifty moved 132 points or 1.10 per cent up to 12,125.

Major gainers in the sensex pack include IndusInd Bank, Tata Steel, HDFC Bank, State Bank of India, Bajaj Finance and Axis Bank with their stocks rising as much as 2.43 per cent.

On the NSE index, except for Nifty IT, all other sub-indices were trading in green with Nifty PSU Bank and Nifty Media uip as much as 1.87 per cent.

Asian shares too rebounded on Tuesday as a day passed without any new escalation in the Middle East and Wall Street erased early losses to end in the black as tech stocks climbed.

Oil surrendered hefty gains as some speculated Iran would be unlikely to strike against the United States in a way that would disrupt supplies, and its own crude exports.

Shares had fallen sharply on Monday as Iran and the United States traded threats after an US air strike killed a top Iranian commander Qassim Suleimani.

On Monday, sensex had crashed nearly 788 points, its worst session in about six months, as escalating US-Iran tensions sent crude oil prices soaring and also made investors shun equities and rush to safe haven assets.

At the closing bell, the 30-share BSE index was at 40,677, down 1.90 per cent — the biggest single-day drop since July 8.

The 50-scrip NSE Nifty had closed at 11,993, falling by 1.91 per cent or 233.60 points.