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The S&P BSE Sensex rose nearly 700 points while the Nifty50 closed with gains of over 200 points. Sectorally, buying was seen in telecom, metal, public sector and oil & gas while banking stocks saw some selling pressure.

The Nifty Realty index closed 5.31 per cent down at 816.15.

Six stocks that were under the F&O ban on Tuesday have now exited. These stocks are Aditya Birla Fashion and Retail (ABFRL), Delta Corp, Indian Energy Exchange (IEX), Polycab India, Steel Authority of India (SAIL) and Zee Entertainment Enterprises (ZEEL).

The Nifty futures closed negative with losses of 1.86% at 21202 levels on Tuesday. India VIX was up by 7.61% from 13.80 to 14.85 levels. Volatility spiked to 15.4 zones and awakened the bears which led to the weakness across the market.

Sona BLW Precision Forgings Ltd., incorporated in the year 1995, is a Small Cap company (having a market cap of Rs 34010.69 Crore) operating in Auto Ancillaries sector.

The recent sharp decline in stocks like IDFC, IndusInd, and HDFC may be a result of market corrections after continuous highs. This correction is expected, especially for sectors that have seen significant growth. However, the pharma sector has been outperforming after years of underperformance. It is difficult to predict the timing and extent of these corrections, but they are necessary for a balance between valuation and fundamentals.

From the Sensex pack, Axis Bank was the top loser, falling over 4% in early trade. Asian Paints, Bharti Airtel, HDFC Bank, and Maruti also opened with cuts, while Infosys, HCL Tech, ABI, and Tech Mahindra opened with gains.