Rupee Sinks 50 Paise To 86.26 Against Dollar

Nifty rises 1.69% to close at 22,535.85 while Sensex gains 1.49% to 74,227.08

- Reuters

India's benchmark equity indexes rose on Tuesday, lifted by bargain buying and a broader Asian rally, as hopes that global trade tensions might ease helped domestic markets recover from their worst drop in 10 months.

The Nifty 50 rose 1.69% to 22,535.85 while the BSE Sensex gained 1.49% to 74,227.08. The indexes fell about 3% in the previous session as fears of a recession took hold after fresh US tariffs escalated the global trade war.

On Tuesday, the Nifty posted its best session in three months while the Sensex in three weeks. Bargain hunting after Monday's drop drove domestic markets higher, said Devarsh Vakil, head of prime research at HDFC Securities.

Asian stocks rebounded from 1-1/2-year lows, with Japan's Nikkei 225 jumping 6%, outperforming regional peers.