Equity benchmark indices made a strong comeback on Tuesday after plummetting to the lowest levels in a year in the previous session as traders piled into energy, finance and IT stocks amid signs of easing Russia-Ukraine tensions.

The 30-share BSE Sensex recovered from the previous day’s losses climbing 1,736.21 points or 3.08% to close at 58,142.05. This was the biggest one-day jump since February 2021.

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Similarly, the NSE Nifty surged 509.65 points or 3.03% to end at 17,352.35.

All 19 BSE sectoral indices closed with significant gains with Auto, banking, tech, realty and IT indices climbing up to 3.87%. Broader BSE largecap, midcap and smallcap indices surged up to 2.94%.

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All 30 Sensex constituents closed with gains – with Bajaj Finance surging by 5.13%, SBI by 4.55%, Bajaj Finserv by 4.37%, L&T by 4.34%, Titan by 4.02%, Wipro by 3.98% and Asian Paints by 3.76%.

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India’s CPI inflation for January touched 6.01%, surpassing RBI’s tolerance level due to high food inflation and low base effect. This has raised concern for the domestic market in the near term. The retail inflation rate in January breached the 6% upper tolerance limit of the RBI for the first time in seven months. On the other hand, the wholesale price index stayed in double-digits for straight 10 months in a row, as per the government data released on Monday.

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

European markets were trading in the positive zone in the afternoon session.

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International crude oil benchmark Brent futures fell 2.44% to USD 94.13 per barrel on Tuesday.

According to the stock exchange, foreign institutional investors (FIIs) were net sellers in the capital market on Monday, as they offloaded shares worth Rs 4,253.70 crore.

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The rupee breaking its four-day losing streak closed 28 paise higher at 75.32 against the US dollar.