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This article is more than 1 month old.

Closing Bell: Sensex, Nifty rebound, close 1% higher; HCL Tech, Wipro lead

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Stock market closed higher Tuesday led by gains in IT and metal stocks. Sensex closed at 56,320, as it rose 370 points and the Nifty50 index surged 155 points to end at 16,770. Out of 50 Nifty stocks, 39 closed the session higher, led by HCL Tech, Wipro, UPL, Hindalco, Tata Steel led the gains, as each scrip rose over 3 to 4 percent.

Closing Bell: Sensex, Nifty rebound, close 1% higher; HCL Tech, Wipro lead
The Indian equity benchmark indices rebounded Tuesday, closed over 1 percent higher, though off the intra-day highs. By the time the market closed, Nifty had slipped 582 points from the intraday high whereas Nifty was down over 165 points. The rebound was led by IT and metal stocks.
The 30-scrip Sensex closed at 56,320, as it rose 370 points and the Nifty50 index surged 155 points to end at 16,770. The broader markets supported the rally as both mid-caps and small-caps rallied a percent higher. The market breadth favours the advances, with the advance-decline ratio at 5:2.
All sectoral indices surged higher, with Nifty Metal and IT and gaining over 3 and 2 percent, respectively. Nifty Bank failed to hold the 35,000 level and slipped over 440 points from the intraday high.
Out of 50 Nifty stocks, 39 closed the session higher, led by HCL Tech, Wipro, UPL, Hindalco, Tata Steel led the gains, as each scrip rose over 3 to 4 percent. Leading the losses were Power Grid, Axis Bank, Cipla, Bajaj Finance, and Hero Moto.
Globally, shares gained as investors weighed up the extent to which the Omicron coronavirus variant would hit economies around the world, with the dollar softening as appetite for riskier assets made a cautious return.
The broader Euro STOXX 600 rose over 1 percent. Germany's DAX and London's FTSE added nearly 1 percent. The MSCI world equity index, which tracks shares in 50 countries, rose half a percent.
Despite the overnight sell-off, even US stock futures were up over half a percent. Wall Street's major indices like Nasdaq and S&P 500 had sunk over 1 percent Monday.
MSCI's broadest index of Asia-Pacific shares outside Japan climbed 1 percent after slumping on Monday to its lowest in a year.
Elsewhere, cryptocurrencies - which often offer a reliable gauge to risk sentiment - gained. Bitcoin added over 4 percent after trending lower in recent weeks. The second-largest coin Ether edged up over 2 percent.
Oil prices started to recover from concerns the spread of Omicron would crimp demand for fuel and signs of improving supply. US crude ticked up 0.4 percent to $68.78 a barrel. Brent crude was flat at $71.50 per barrel.
With inputs from Reuters
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