Indian Markets: Sensex, Nifty Open In Green After Biggest Fall On Monday

Indian markets opened on a positive note on Tuesday a day after the Indian stock market logged the biggest ever single day fall. Sensex rose over 1,200 points in opening trade. It opened at 27,056.23 and touched the high of 27,462.87 in early trade.

At 10.05 am, Sensex was trading at 26,018.48, higher by 37.24 or 0.14% per cent. The Nifty50 on the National Stock Exchange was trading at 7,630.60 up by 20.35 points or 0.27 per cent from its previous close.

On Monday, Sensex witnessed the biggest ever single day fall as it ended over 3,900 points lower than its previous close on the coronavirus crisis.

On Tuesday, the Indian rupee witnessed marginal recovery in early trade and appreciated by 18 paise to 76.02 against the US dollar on Tuesday tracking positive opening in domestic equities. At the interbank foreign exchange the rupee opened at 76.02, registering a rise of 18 paise over its previous close. On Monday, rupee had settled at 76.20 against the greenback.

Traders said investor sentiments improved after the Reserve Bank as part of its effort to boost liquidity on Monday said it will conduct Rs 1 lakh crore of short-term variable repo auction. The repo auctions will be conducted in two tranches. The first repo auction of Rs 50,000 crore was held on Monday. The second tranche of Rs 50,000 crore of repo auction will be conducted on Tuesday.

However, traders said there are still concerns over the impact of coronavirus outbreak on the domestic as well as global economy. The number of deaths around the world linked to the new coronavirus has reached over 16,000.

Meanwhile, nearly 500 coronavirus cases have been reported in India so far, according to Health Ministry data on Tuesday. (With PTI and IANS Inputs)