Know how Indian stocks are recovering from the biggest stock market crash ever!

Indian stocks breathed a sigh of relief on Tuesday in part due to short covering after 7 days of sustained selling even as sentiment improved a bit after Prime Minister Narendra Modi took stock of the economy in a meeting with top industrialists and policy makers. Banking stocks, beaten blue over the last one month, were the flavour of the day.

As a consequence, the Nifty surged 129 points, or 1.7 percent, to 7,688 points, near its day's high. The Advance-Decline Ratio was a strong 45/4, however, the list of gainers left much to be desired when it came to its quality. GAIL, Yes Bank, BHEL, Tata Steel and Axis Bank were the top 5 stocks closing in positive territory. Among the losers were Hindustan Unilever, Cairn, BPCL, Tech Mahindra and Bharti.

Axis Bank, Yes Bank and ICICI Bank were the top traded stocks on the National Stock Exchange and all three of them quoting strongly into positive territory.

There was a dark shade of green on wider indices as well: The CNX 100, CNX 200, CNX 500, the Mid cap and Small Cap Indices gained between 0.6 percent and 1.5 percent as investors tried to find value in beaten down stocks in a market quoting near 13-month lows. The Bank Nifty lead sector-specific indices higher with gains of 3.6 percent. Smart jumps were also seen on CNX PSU Bank, CNX Finance, CNX Metals, CNX Energy and CNX Realty Indices but visible profit booking was seen on CNX FMCG Index where Hindustan Unilever led the losers.

The Sensex jumped 424 points, or 1.7 percent, to 25,317 points on the Bombay Stock Exchange. Tata Steel, Larsen, HDFC and HDFC Bank were among the major gainers while Bharti, ITC, Infosys and Hind Unilever were top losers. The Advance-Decline Ratio stood at a robust 26/4.

State Bank of India, Tata Steel and Axis Bank were the top traded stocks on the Sensex.

The mood was distinctly bullish in the futures and options space with 139 futures rising compared with 22 that fell. JSW Energy, DLF and Yes Bank futures lead the gainers list while Amtek Auto, Kaveri Seed, Reliance Comm and Page Industries had sharp losses. All sectors ended with gains except for the FMCG space.

The broader market saw the emergence of bulls on a rare day. 1,464 stocks gained compared with 1,184 that fell below their Monday's close.

Stocks that made it to the list of 52 week highs included 8K Miles, Abbott India and Rama Steel Tubes while 142 stocks hit fresh 52 week lows on the NSE, including Dena Bank, Esab India, Garden Silk Mills and EMCO Ltd.

Federal Mogul, Indian Hume Pipe, Finolex Industries and Sanghvi Movers were among the 25 stocks that made up the top volume buzzers list.

(Image credits: Indiatimes)