Benchmark indices have recovered from intra-day lows and hit new highs on Tuesday afternoon, thanks to buying interest in heavyweights such as HDFC, Bharti Airtel, ITC and Reliance Industries. The BSE Sensex has recovered more than 500 points from the lows of the day and is trading as of 1:45 p.m. at 58,5222.35, up 227.42 points or 0.39 percent and the Nifty 50 stands at 17,425.45, up of 49.20 points or 0.28 percent.
In the broader markets, the BSE Midcap Index is trading absolutely flat and the BSE Smallcap Index is down 0.2 percent.
In the foreign exchange market, the rupee has fallen 7 paise to 73.17 against the US dollar, following a strong dollar in the overseas market and dampening the trend in domestic equities. On interbank currencies, the rupee opened at 73.12 against the dollar and then fell to 73.17, down 7 paise from the previous close.
On a stock-specific front, Bharti Airtel has gained more than 2 percent to top the list of winners on the BSE. HDFC, ITC and Reliance Industries each gained 1-2 percent.
On the other hand, Sun Pharma, Axis Bank, Powergrid and Tech Mahindra have each lost up to half a percent on the BSE.
Market breadth is negative for the BSE, with 1,1776 shares falling versus 1,323 advances.