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Down by 1000 points only 15th time since 2015

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The BSE SENSEX advanced 222 points or 0.4% to 49,966 in early trade on Tuesday, after falling in the previous five straight sessions. Market sentiment was lifted by reports that the WHO had agreed on a no-fault compensation plan for claims of serious side effects in people in 92 poorer countries due to the COVID-19 vaccine via the COVAX initiative. News that Reliance Industries expects to receive approvals by Q2 of the next fiscal year to hive off its oil-to-chemicals business also encouraged investors to open new positions. In the US, a massive fiscal aid stimulus bill is expected to be passed in the House of Representatives this week but could face hurdles in the Senate. Traders now anticipate any changes to the US Federal Reserve’s dovish outlook from Chair Jerome Powell when he speaks before the Senate Banking Committee later in the day. Oil and Natural Gas Co jumped 6.4% on strong US prices. Meantime, Bajaj Finserv added 1.3%.

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