After witnessing severe losses on Monday, benchmark indices bounced back sharply with the Sensex ending the day higher by 1028 points higher, while the Nifty gained 316 points in trade. Most of the global markets saw robust gains as China's manufacturing data surprised positively.
Majority government owned companies saw solid buying support in trade today. Government owned oil and gas companies like ONGC and GAIL surged, while Indian Oil and Coal India were the other top gainers from the Nifty space.
Reliance Industries too saw solid gains of more than 8 per cent, which helped push the indices higher.
A select few stocks that lost ground in trade were IndusInd Bank, Bajaj Finance and Bajaj Finserv. The HDFC twins, which were badly battered in trade on Monday managed to gain ground and ended the day higher.
All of the sectoral indices ended in the green with IT and metals being the best performing sectors in trade.
Meanwhile, markets across Europe were trading with good gains and the Dow Futures were also pointing to higher openings. European markets were trading with gains of 2.5 per cent. Indian markets are expected to remain volatile going ahead, taking cues from coronavirus infections from around the globe.