Markets stage spirited recovery as Sensex rises 694 pts, metal & banking stocks shine

A total of 2,468 stocks advanced, 1,478 declined & 112 remained unchanged

Benchmark Sensex recovered its early losses to close higher by 694 points on Tuesday on late buying in banking, steel and oil & gas shares amid firm trends in global equities ahead of the US presidential elections.

Bouncing back from Monday's sharp fall, the BSE Sensex jumped 694.39 points or 0.88 per cent to settle at 79,476.63. During the day, it soared 740.89 points or 0.94 per cent to 79,523.13.

The NSE Nifty climbed 217.95 points or 0.91 per cent to settle at 24,213.30 as 39 of its constituents advanced and 11 declined.

Stock markets opened on a weak note and traded in a range with a negative bias in the first half as investors turned cautious ahead of the US presidential elections. Sensex hit a low of 78,296.70 while Nifty touched 23,842.75. Value buying in the afternoon session helped indices recover losses and closed in the green.