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Stock markets stage sharp recovery as Trump delays tariffs on neighbours; Sensex jumps 1,397 pts

Asian Paints were also among the major gainers.

PTI

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Stock indices Sensex and Nifty rebounded nearly 2 per cent on Tuesday

Mumbai, 4 FEB

Benchmark stock indices Sensex and Nifty rebounded nearly 2 per cent on Tuesday in line with a recovery in Asian peers after US President Donald Trump delayed tariffs on Mexico and Canada for a month.

The 30-share BSE Sensex jumped 1,397.07 points or 1.81 per cent to settle at a month's high of 78,583.81. During the day, it surged 1,471.85 points or 1.90 per cent to 78,658.59.

The NSE Nifty soared 378.20 points or 1.62 per cent to 23,739.25, a level not seen since 3 January.

From the 30-share blue-chip pack, Larsen & Toubro rallied nearly 5 per cent. Adani Ports, IndusInd Bank, Tata Motors, Reliance Industries, UltraTech Cement and Asian Paints were also among the major gainers.

ITC Hotels, Zomato, Nestle and Maruti were among the laggards.

In Asian markets, Seoul, Tokyo and Hong Kong ended significantly higher.

European markets were trading mostly lower. US markets ended in the negative territory on Monday.

Global oil benchmark Brent crude dropped 1.05 per cent to USD 75.16 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,958.37 crore on Monday, according to exchange data.

The BSE bellwether index Sensex declined 319.22 points or 0.41 per cent to settle at 77,186.74 on Monday, snapping its five-day rally. The Nifty declined 121.10 points or 0.52 per cent to 23,361.05.