Markets log best 1-day gains in over 3 months as global markets stabilise

All Sensex, Nifty stocks close in the green; FPIs pump in Rs 4,166 cr

India’s benchmark indices rebounded sharply on Tuesday as stability returned to global markets after a brutal sell-off triggered by US Federal Reserve Chairman Jerome Powell’s hawkish comments last week. Strong inflows from foreign portfolio investors (FPIs) on optimism about India’s growth prospects saw the domestic markets extend their outperformance over global peers.

The Sensex surged 1,564 points, or 2.7 per cent, to settle at 59,537 on Tuesday, while the Nifty gained 446 points, or 2.6 per cent, to finish at 17,759. This was the biggest single-day gain for both the indices in more than three months, and among the top three