Bank of India, Greenlam Inds hit 52-week lows

On the flip side, stocks like - Adani Enterprises, Bank of India, Canara Bank, DB (International) Stock Brokers, Fiem Industries, GMDC, Greenlam Industries, Hinduja Global Solutions, IFGL Refractories, Jindal Steel & Power, Kesar Enterprises, Manaksia Industries, Manaksia Steels, State Bank of Mysore, Oil India, Raj Television Network, Spice Mobility, Surana Industries, Tata Motors, Tamilnadu Telecommunication, UCO Bank and W S Industries logged a new 52-week low.

On Tuesday, the BSE benchmark index, the Sensex, opened a wee bit in red at 27,627 and thereafter traded on a choppy note for a majority of the trading session. The index dipped to a low of 27,571 in mid-noon deals, but soon rebounded into the positive zone and surged to a high of 27,815 - up 244 points from the day's low.

The Sensex finally ended with a gain of 136 points at 27,781.

The NSE Nifty moved in a range of 79-odd points. The index touched a low of 8,299, and a high of 8,378, before settling with a gain of 50 points at 8,369. The India VIX (Volatility) index declined by more than 2 percent to 16.9275.

Elsewhere in Asia, global market too heaved a sigh of relief. The beaten down Shanghai Composite index zoomed 5.5 percent to 4,277. The Hang Seng gained a percent at 26,250, and Nikkei added 0.6 percent to 20,236.