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Live: Markets extend gains, Sensex 200 points up, Nifty crosses 7,850

Live: Markets extend gains, Sensex 200 points up, Nifty crosses 7,850

The rupee recouped Monday's losses in early trade on Tuesday, opened at 66.55 a dollar, up 10 paise against dollar.

01:25 pm: Benchmark indices extended rally in afternoon trade with the Sensex rising 227.76 points or 0.88% to 25969.32 and the Nifty climbing 67.90 points or 0.87% to 7876.90.

12:55 pm The Indian currency recovered from its day's low, up 12 paise to 66.51 against dollar. It touched an intraday low of 66.76 a dollar.

12.45 pm: Market rebounds: Equity benchmarks rebounded amid volatility, tracking strong opening of European markets.

The Sensex gained 24.95 points at 25766.51 after seeing more than 400 points fall intraday. The Nifty rose 6.20 points to 7815.20 after falling below the 7700 level intraday. The market breadth slightly improved. About 653 shares have advanced against 1848 shares declined on the Bombay Stock Exchange.

12:40 pm: Global Update: China's Shanghai Composite index crashed to 2965 at close, the lowest level in 2015, down 7.6% (in addition to 8.5% fall in previous session). US futures recovered sharply from day's low with the Dow Jones and S&P 500 futures trading 2% higher each. European markets also opened strong. France CAC and Britain's FTSE gained 1.7% each after Monday's mayhem.

12:37 pm: Market is back in green with Sensex at 25777.74, up by 0.14% while Nifty is at 7820.70, which is 0.15% high.

12:27 pm: After falling to 25,324 mark, Sensex has gone up slightly at 25,659.59 while Nifty is at 7792.45 points.

11:55 am:The panic selling continued in late morning trade. The Sensex crashed 415.82 points or 1.62% to 25325.74 and the Nifty cracked 128.60 points or 1.65% to 7680.40.

11:20 am: Sensex has fallen over 340 points and Nifty is trading nearly 100 points down. The volatility in the markets is keeping the investors on the edge.

11:00 am: Markets are feeling the pressure. The Sensex has shed the gains and is now 155 points down at 25,586. The Nifty is also nearly 50 points down. The broader markets continued to see selling pressure as the BSE Midcap lost 0.6% and Smallcap declined 1.3 percent. About 608 shares have advanced against 1604 shares declined on the Bombay Stock Exchange.

10:40 am: Moody's Investors Service said it could upgrade India's rating if the government's reform agenda is implemented and key macroeconomic indicators like inflation remain under control over the next year. "India's rating could be upgraded if Moody's expectations of gradual but credit positive reforms are realised in actual policy implementation and if the recent improvement in inflation, fiscal and current account ratios is sustained," it said.

Moody's has a 'Baa3' rating on India with a positive outlook. Since 2004, Moody's has rated India at 'Baa3', the lowest investment grade - just a notch above 'junk' status.

10:20 am: The Sensex gained 180 points to 25,923.39 and the Nifty rose 40 points to 7,849.85. Equity benchmarks clawed back again amid volatility ahead of expiry of August Nifty derivative contracts (on Thursday). The market breadth was weak as about 718 shares have advanced against 1237 shares declined on the Bombay Stock Exchange.

Coal India, Axis Bank, Vedanta, Tata Steel, Bajaj Auto, Cairn India, Yes Bank and BPCL topped the buying list, up 2-5%. However, NTPC, GAIL, HDFC, Ambuja Cements, Bharti Airtel and Hero Motocorp lost 2-5%.

10:00 AM: All the sectoral indices led by realty, metal and consumer durable led the recovery. Brokers said emergence of buying at prevailing lower levels in bluechips coupled with covering-up of short positions by speculators, helped key indices to trade in the positive zone.

9:45 am: In a see-saw trade, the index slipped into the negative territory after opening at a high but recovered and was up 120 points at 25,862 points at 9:45 am. The market gave up early gains on profit booking as investors may be preferring strategy of "sell of rallies". At the same time, the Nifty of the National Stock Exchange rose by 38.60 points to 7,847.60 after dipping to a low of 7,801 in early trade.

About 760 shares have advanced, 977 shares declined, and 55 shares are unchanged on the BSE. The broader markets slipped into red, down half a percent.

9:40 am: Hong Kong stocks fell 0.67% in early trade on Tuesday, continuing a rout in world equities markets that have been battered by mounting concerns over global growth. The benchmark Hang Seng Index dropped 142.86 points to 21,108.71 in opening deals.

9:15 am: After a day of bloodbath, the markets regained on Tuesday. The BSE Sensex climbed 308.79 points or 1.20 per cent to 26050.35 and the Nifty rose 94.30 points or 1.21 per cent to 7903.30.

About 488 shares have advanced, 371 shares declined, and 33 shares are unchanged on the BSE.

The rupee recouped some Monday's losses in early trade on Tuesday. The currency has opened at 66.55 a dollar, up 10 paise compared to 66.65 a dollar in previous session.

In line with crash in equities, the rupee tumbled sharply by 82 paise -- its biggest single day fall in 2015 -- to settle at 66.65 against the US dollar as global meltdown fears remained unabated.

The Sensex and Nifty had slumped nearly 6 per cent on Monday, posting their biggest daily falls since January 2009 as steep falls in Chinese equities sparked widespread unrest in global markets.

Declines were across the board, with bluechips and NSE heavyweight Reliance tumbling 8.6 per cent and Larsen & Toubro falling 6.2 per cent. Mid and small-cap stocks too took a beating, the BSE mid-cap index fell 7.68 per cent while the small-cap index ended 8.81 per cent lower.