The 30-share BSE barometer tanked 566.09 points or 0.94 per cent to finish at 59,610.41. During the day, it plunged 666.66 points or 1.10 per cent to 59,509.84.
The 30-share Sensex surged 1,736.21 points or 3.08 per cent to end at 58,142.05 – recouping the losses suffered on Monday. Likewise, the NSE Nifty soared 509.65 points or 3.03 per cent to settle at 17,352.45.
Benchmark indices started the session weak as investors remained cautious assets ahead of RBI's policy meet. However, the selling pressure deepened in the afternoon trade, they added.
SBI was the top loser in the Sensex pack, shedding nearly 2 per cent, followed by M&M, NTPC, Kotak Bank, Bajaj Finserv, HDFC and PowerGrid.
Starting off on a high note, the 30-share index soared to trade briefly above the key 58,000-level in afternoon trade, before plunging to a low of 57,119.28. After fighting bouts of volatility towards the fag-end of the session, the index finally closed 76.71 points or 0.13 per cent lower at 57,200.23.
The 30-share BSE index ended 581.21 points or 1.00 per cent lower at 57,276.94. Similarly, the broader NSE Nifty plunged 167.80 points or 0.97 per cent to 17,110.15.
Benchmark indices started the session on a weaker note and the selling intensified during afternoon trade, with almost all sectoral indices ending in the red.
A depreciating rupee and continued selling by foreign investors also affected the market sentiment.
Starting off on a positive note, the 30-share BSE benchmark hit the day's high of 60,427.36, before ending at 60,395.63, higher by 650.98 points or 1.09 per cent.
The 30-share index ended 142.81 points or 0.24 per cent higher at 59,744.65. Similarly, the NSE Nifty rose 66.80 points or 0.38 per cent to close at 17,812.70.
After rebounding over 960 points from the day’s low during the session, the 30-share index settled 295.93 points or 0.52 per cent higher at 57,420.24. Similarly, the Nifty recovered 82.50 points or 0.49 per cent to 17,086.25.
Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo ended with gains. Stock exchanges in Europe were also trading on a positive note in mid-session deals.
NSE Nifty surged 121.20 points or 0.70 per cent to close at 17,536.25.
Equity benchmark Sensex on Monday dropped 210 points on selling mainly in banking and IT stocks as mounting coronavirus cases kept investors globally on edge.
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