Closing Bell: Sensex climbs 697 points, Nifty closes at 17,315

Equity benchmark indices Sensex and Nifty recovered from
early losses to close over 1% high on Tuesday, on the back of heavy buying in
index heavyweight Reliance Industries, Infosys and TCS amid gains in global
markets.

The 30-share BSE Sensex surged 696.81 points or 1.22% to
close at 57,989.30. The highest it touches was 58,052.87 and the lowest was
56,930.30 in intra-day trade. It climbed 760.38 points or 1.32% during the day.
Similarly, NSE Nifty climbed 197.90 points or 1.16% to close at 17,315.50.

Also Read | Hindustan Unilever in talks to buy MDH Spices: Report

Among sectors, IT, Auto, Bank and Oil & Gas indices
rose 1% each, while Realty index was down 1%. The BSE midcap and smallcap
indices ended flat.

The biggest gainers from the Sensex pack were Tech
Mahindra up by 3.83%, Reliance Industries up by 2.59%, Bajaj Finserv up by
2.59%, ITC up by 2.21%, TCS up by 2.09% and Kotak Mahindra up by 1.88%.

Also Read | Oil prices rise as EU countries consider imposing ban on Russian oil

Among the laggards were Hindustan Unilever Limited down
by 2.81%, Nestle India down by 2.49%, NTPC down by 0.08% and Sun Pharma down by
0.06%.

On Monday, the Sensex lost 571.44 points or 0.99% to
settle at 57,292.49. The Nifty declined by 169.45 points or 0.98% to settle at
17,117.60.

Also Read | Gold dips as yields rise in response to the Fed’s aggressive stance

Asian market bourses in Shanghai, Seoul, Hong Kong and
Tokyo also closed with significant gains. US stock exchanges ended on a
negative note in the overnight session.

Brent crude, international oil benchmark slipped 1.57% to
USD 113.8 per barrel.

Also Read | Petrol, diesel price hiked after 4 months, LPG price increased by Rs 50

According to stock exchange data, foreign institutional
investors (FIIs) were net sellers in the capital market, as they sold shares
worth Rs 2,962.12 crore on Monday.

The rupee gave away its initial losses to settle flat at
76.18 against the US dollar on Tuesday.