Sensex gains 500 points, Axis Bank, Tata Steel gain

Indian benchmark indices opened in green on Tuesday (March 16) but after a positive start, the indices shed all its gains with the Sensex plunging 527.17 points or 1.68% at 30,863.06 and the Nifty down 73.40 points or 0.80% at 9,124.

Indian benchmark indices opened in red on Tuesday (March 16) but after a negative start, the indices started to rebound with the Sensex advancing 504.73 points or 1.61% at 31,894.80.

About 359 shares have advanced, 434 shares declined, and 32 shares are unchanged. Prominent losers were HDFC Bank, Titan, Kotak Mahindra Bank, UPL and Grasim Industries, while Axis Bank, State Bank of India, Tata Steel and ONGC were important gainers.

The Indian rupee gained 14 paise to touch 74.13 per dollar on Tuesday versus 74.27 on Monday.

Indian benchmark indices traded flat to negative in the pre-opening session. At 09:01 hours IST, the Sensex was down 33.47 points or 0.11% at 31356.60, and the Nifty plunged 76.55 points or 0.83% at 9120.85.

On Monday (March 16), the equity indices plunged 2,713.41 points or 7.96% at 31390.07, while the Nifty was down 757.80 points or 7.61% at 9197.40. Major loser on the Nifty were IndusInd Bank, JSW Steel, Tata Steel, Vedanta, and HDFC while Yes Bank is the only gainer stock. About 430 shares had advanced, 1987 shares declined, while 152 shares remain unchanged.