The Indian markets saw a light bounceback on Tuesday, a day after the RBI policy announcement saw markets tank by about 2 per cent.
The BSE Sensex ended the day at 16,860, up 154 points (0.9 per cent) from its previous close. The NSE Nifty was up 40 points (0.8 per cent) from its previous close to end the day at 5104.
“This was expected as the market was making up for the losses of the day before. This is nothing but a small knee-jerk reaction. Investors are just paring their losses,” said Mr. Shrikant Shetty, an independent market analyst.
The rally in the day was led by oil&gas stocks said analysts. The oil&gas stocks reacted to comments made on the sideline of the G-20 summit that oil prices could be deregulated and therefore, subsidies would be lower. The BSE Oil&Gas sector index was up 2.1 per cent.
The other sector stocks which rose by one per cent were the FMCG, Healthcare and PSU stocks.
The top five Sensex stocks were GAIL, RIL, ITC, Bharti Airtel and ONGC. The top five laggards were Sterlite Industries, BHEL, Infosys, Tata Power and Jindal Steel.