FINAL TRADE: Sensex rebounds 1,100 pts from day’s low; Nifty nears 24,200 as metals, banks, auto stocks lead

Indian equity markets staged a robust recovery on Tuesday, with the Sensex rebounding over 1,100 points from its intraday low and the Nifty 50 approaching the 24,200 mark, driven by gains in metal, banking, and auto sectors. At 2:40 PM, the Sensex was up 686.24 points, or 0.87 per cent, at 79,468.48, while the Nifty 50 advanced 212.30 points, or 0.88 per cent, to 24,207.65.

Bank Nifty also rallied, surging over 1,300 points from the day's low, supported by strong performances in HDFC Bank, Axis Bank, IndusInd Bank, and SBI, each rising over two per cent. Broader indices such as the Nifty Midcap 100 and Smallcap 100 also edged up by half a per cent, reflecting renewed investor sentiment across market segments.

Global cues and US election anticipation impact investor mood

Earlier in the session, the indices had dipped as investors reacted cautiously to foreign outflows and ahead of the U.S. presidential election and Federal Reserve rate decision. Sentiment globally remains on edge due to the election's uncertain outcome, which has spurred volatility across markets. Foreign Institutional Investors (FIIs) continued their selling spree, with net outflows of Rs 4,329.79 crore on Monday alone.

The recent recovery in banks and metals suggests that investors are gradually moving past the selloff, with analysts noting that valuations may look attractive following the recent downturn.