Sensex off day's high, up 200 pts; Vedanta jump up to 7%

Indian equity markets were trading with gains in Tuesday's highly volatile session that saw the volitality index, India VIX, surge over 7 per cent to a 12-year high level of 63.14.

The S&P BSE Sensex was hovering around 31,660 levels, up 240 points, or 0.76 per cent  after falling as much as 500 points earlier in the session. The Nifty50 index was trading 54 points, or 0.6 per cent, higher at 9,250 levels. Majority of the Nifty sectoral indices were trading in the green with Nifty Metal index, up 3 per cent, and Nifty Pharma index, up 2 per cent, leading the gains.

Among individual stocks, shares of YES Bank rallied over 60 per cent to Rs 60.65 on the NSE after global rating agency Moody's upgraded YES Bank's long-term foreign currency rating from "Caa3" to "Caa1".

Power Grid (up 6 per cent) and Sun Pharma (up 5 per cent) were the top gainers in the Sensex pack. On the other hand, index heavayweights Infosys and HDFC Bank were both trading over 1 per cent lower each.

In the broader market, the S&P BSE MidCap index was up 33 points, or 0.28 per cent, and the S&P BSE SmallCap index was flat.

Vedanta jump up to 7% on rise in steel demand -

Among individual stocks, SAIL soared 6.7 per cent to Rs 29.10 on the NSE, followed by gains in Vedanta (6.4 per cent), Jindal Steel (6.3 per cent), Tata Steel (6.2), National Aluminium Company (5 per cent), and Hindalco (4.4 per cent). Besides, NMDC, JSW Steel, Hindustan Copper, Moil, and Hindustan Zinc advanced between 2.7 per cent and 4.9 per cent.

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