Indian equity benchmark Sensex revived 187 points on Tuesday on fag-end buying in index majors such as Reliance, Bajaj Finance and Titan amid a firm trend in global markets.

Traders said the late recovery in stock was supported by covering-up of short positions by bears and helped in wiping off losses.

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The 30-scrip BSE Sensex rose 187.39 points or 0.33% to close at 57,808.58. Similarly, the NSE Nifty ended 53.15 points or 0.31% higher at 17,266.75.

Among sectoral indices, except auto, metal, pharma and PSU bank all other indices ended in the red. BSE smallcap and midcap indices fell 0.45-1.4%.

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The top gainer in the Sensex pack was Tata Steel by 3.10%, followed by Bajaj Finance by 1.74%, Bajaj Finserv, Reliance Industries by 1.64%, Titan by 1.38% and Asian Paints by 1.33%.

Among the top losers were PowerGrid shredding up to 1.66%, TCS by 0.96%, Ultratech by 0.65%, Tech Mahindra by 0.62% and Kotak Mahindra by 0.60%.

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Out of 30 Sensex constituents, 19 shares closed in the red while 11 ended in losses.

The rate-setting panel’s three-day meeting of the Reserve Bank has begun on Tuesday to decide net monetary policy in the backdrop of Union Budget 2022-23, inflationary concerns and evolving geopolitical situation.

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Among the Asian market peers, bourses in Tokyo, Shanghai and Seoul closed higher, while Hong Kong was in the red.

European stock exchanges were trading with significant gains in mid-session deals.

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Meanwhile, international oil benchmark Brent crude fell 0.81% to USD 91.94 per barrel.

According to stock exchange data, foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 1,157.23 crore on Monday.

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The rupee declined 5 paise to close at 74.74 (provisional) against the US dollar on Tuesday, following the strength of the American currency in the foreign market and elevated crude oil prices.