After opening lower tracking Asian and US markets, Sensex and Nifty reversed losses in the afternoon trade, led by a rally in the shares of Sun Pharma and Vedanta. The 30-share index closed 77 points higher at 36,347.08, while the broader Nifty 50 surged past the 10,900-mark. Earlier, the Sensex slumped 213 points in the opening trade to 36,047.49 after S&P 500 closed at a 14-month low on concerns about slowing economic growth. Sun Pharma share price gained by more than 3.3% to hit the day’s high at 434.90.
Earlier, the SGX Nifty was trading 38 points lower indicating a negative start for Sensex and Nifty. Asian share markets slumped on Tuesday as heightened concerns about a slowing global economy sent Wall Street stocks skidding to their lowest levels in more than a year. MSCI’s broadest index of Asia-Pacific shares outside Japan shed 0.3 percent in mid-morning trade while Japan’s Nikkei tumbled 1.2 percent by the midday break. We bring to you live updates.