Key stock indices, BSE Sensex and Nifty50, recovered on Tuesday following two sessions of sharp losses, with strong buying in major stocks .

Highlights: Among the broader markets, small-cap shares outperformed others, with the Nifty Smallcap100 ending up 1.35 per cent

Equity benchmarks recovered from Monday’s sharp decline, with oil and gas stocks leading the gains after CLSA upgraded ONGC to “high conviction outperform.” The 30-share BSE Sensex rose 234.12 points or 0.30 per cent to close at 78,199.11, while the broader NSE Nifty 50 advanced 91.85 points or 0.39 per cent to end at 23,707.90.

BSE Sensex and Nifty50, the Indian equity benchmark indices, crashed in trade on Monday. While BSE Sensex tanked over 1,400

The Sensex platform was painted in red. Titan, ICICI Bank, and Bajaj Finance remained the only exceptions in green. On the other hand, the major laggards included Tata Steel, Kotak Bank, and M&M.

HDFC Bank Ltd shares were down 1.56 per cent at Rs 1,722 after the Q3 update. December was the third consequent quarter of sequential corporate loan decline as the banks continued to choose profitability over balance sheet growth.

The stock markets began the trading week on a muted note as indices slipped in the morning hours of the session. The BSE Sensex declined more than 100 points to reach 79,092.80 as of 9:53 AM, while the NSE Nifty50 fell a little over 60 points to touch 23,