After seeing one of the biggest crash on Monday, Market Benchmark Index Sensex showed signs of recovery as stock markets opened 1,200 points higher from the previous close.
Sensex rose 1,246.20 points at 27,227.44 in opening session on Tuesday while the broader Nifty 50 jumped 417 points at 8,027.25.
Top gainers were INFY, Hindustan lever, HCL Tech, Tech Mahindra, Maruti, Reliance, Sun Pharma, TCS, Bajaj Finance, NTPC, Bajaj Auto, Axis Bank, SBI, Nestle India, HDFC Bank, Bharti Airtel, and ONGC on the Bombay Stock Exchange (BSE) while M&M, HDFC, Kotak Bank, ITC, Hero Motors, ICICI, Tata Steel, L&T, Titan and IndusInd Bank were in deep red.
Earlier, equities plunged even lower on Monday afternoon following a 45-minute halt caused after the S&P BSE Sensex hit 10 per cent lower circuit level. Sensex ended 3,934.72 points lower to end at 25,981.24 while the broader Nifty plummeted 1,135.20 points at 7,610.25. Nifty 50 was at a 4-year low on Monday.
Although the markets saw an across-the-board selling, banking and auto stocks were the worst-hit. The Indian rupee too dragged further to hit a fresh record low of 76.02 versus Friday's close of 75.19.
Investor wealth plummeted by over Rs 10 lakh crore in the first hour of trade on Monday as the equity markets went into a tailspin and sank 10 per cent.
The coronavirus epidemic continued to cause widespread lockdowns and quarantines, edging economies globally in dire straits and evoking fears of a prolonged recession.