Stock Market Today: Sensex Gains 1,200 Points, Nifty Above 17,650

Indian stock markets today erased Monday's losses when benchmark indices Sensex and Nifty surged 2%, driven by broad-based gains, as investors used recent dips to enter the markets.

After a positive start, the Sensex soared over 1,050 points to reclaim the 59,000 mark while the Nifty50 rose over 300 points to trade above 17,600 levels. 
 
All 30 stocks in the Sensex pack remained in the green. Bajaj Finserv, IndusInd Bank, Bajaj Finance and IndusInd Bank were up between 3.5% and 5%. Reliance Industries Limited was trading 1.2% higher.

Broader markets, too, reflected similar resilience as Nifty Midcap 100 and Nifty Smallcap 100 surged over 1 per cent each.

Earlier today, the key benchmark indices were in positive territory on Tuesday with the BSE Sensex up 420.04 points to 58,392 and the NSE Nifty marginally up 127.35 points to 17,440.25 in early trade. 

Barring Bharti Airtel (-0.44%), all stocks were in positive territory with Bajaj Finserv, Tata Steel, IndusInd Bank, Bajaj Finance and Tech Mahindra emerging as major gainers, with up to 3.19 per cent gains.

Broader markets, meanwhile, outperformed benchmark indices as Nifty Midcap 100 and Nifty Smallcap 100 surged up to 0.9 per cent.

All sectors opened in green zone with Nifty Media, Nifty Metal, and Nifty Energy indices rising over 1 per cent each.

Meanwhile, the rupee gained 4 paise to 79.87 against US dollar in early trade.

Earlier, SGX Nifty was trading flat and the index was quoting 17,410, 29 points higher from its Monday close. 

Major Asian stocks traded mixed at open on Tuesday following as the traders looked to claw some gains after a steep sell off in the previous session, whereas fears of inflation curbed the gains. MSCI's index of Asia-Pacific shares outside Japan was trading 0.47 per cent lower.