Investors earned about Rs 6 lakh crore as the overall market capitalisation of BSE-listed firms rose to Rs 451 lakh crore from nearly Rs 445 lakh crore in the previous session.
Broad-based buying lifted midcap and smallcap stocks as global markets rallied, but analysts remain cautious and advise selective investing amid ongoing volatility.
Indian stock markets remained closed on Tuesday on account of the Mahavir Jayanti holiday, with trading suspended on both the NSE (National Stock Exchange) and BSE (Bombay Stock Exchange).
The Nifty Midcap and Smallcap indices declined 0.4% and 0.7%, respectively.
At the close, the Sensex fell 1,342.27 points, or 1.72%, to 76,863.71, while the Nifty dropped 394.75 points, or 1.63%, to 23,866.85.
At 9.43 a.m., the benchmark Sensex traded 191.93 points higher at 36,836.35 while the Nifty edged up by 47.55 points at 10,895.45.
The mock trading (contingency) has been scheduled for capital market segment, securities lending and borrowing market, commodity derivatives, currency derivatives and futures and options segments, NSE said in separate circulars on Tuesday.
The benchmark Sensex opened at 36,575.24 from its Tuesday's close of 36,562.91. At 10.01 a.m., the Sensex was up 34.25 points or 0.09 per cent at 36,597.16.
The IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) weakened to 51.4 in August, its lowest mark since May 2018, from 52.5 in July.
Consequently, India 'VIX', or the volatility index- the market expectation of volatility over the near-term - closed sharply higher. The VIX closed on Tuesday at 18.60, after it had surged nearly 12 per cent in a single session.
