After a two-day drop, stock markets rebound, with shares of banks and metals shining

Following two days of losses due to purchasing in metal, financial, and energy companies as well as a positive trend in US markets, benchmark stock indexes rose on Tuesday.

The 30-share BSE Sensex closed at 65,930.77, up 275.62 points, or 0.42 percent. It increased by 427.21 points, or 0.65%, to 66,082.36 throughout the course of the day.

The Nifty as a whole increased by 89.40 points, or 0.45%, to 19,783.40.

The largest gainers among the Sensex companies were JSW Steel, Titan, Tata Steel, Sun Pharma, Reliance Industries, Bharti Airtel, Tata Motors, and HDFC Bank.

Those that lagged behind were NTPC, Tech Mahindra, Maruti, State Bank of India, and Larsen & Toubro.

The minutes of the most recent Fed meeting were the focus of attention today, according to Vinod Nair, Head of Research at Geojit Financial Services. The Fed’s dovish statement is supported by the recent cooling US employment figures and decreasing inflation.

Bond rates and the dollar index have declined, which points to growing conjecture about the possible top of the interest rate cycle.

This will draw capital to developing economies. Due to a robust increase in demand for holiday goods, consumer durables and real estate led the market’s rise, Nair said.

Prior to the publication of the Fed minutes later in the day, the US dollar index decreased by 0.10 percent to 103.33.

Seoul concluded the Asian market session higher while Tokyo, Shanghai, and Hong Kong saw losses.

The state of the European markets was inconsistent. Monday’s US market close was favorable due to a decline in the dollar and an easing of bond rates.

The benchmark for global oil, Brent crude, dropped 0.61 percent to $81.82 a barrel.

Exchange data shows that on Monday, foreign institutional investors (FIIs) sold off stocks worth Rs 645.72 crore.

The BSE benchmark finished Monday at 65,655.15, down 139.58 points, or 0.21 percent. The Nifty fell to 19,694 by 37.80 points, or 0.19 percent.