Domestic stock markets settled Tuesday's session on a negative note. However, the last hour surge helped the markets to close the session off lows. Nifty gained 85 points from the intraday low of 11,908 to end 53.30 points lower at 11,992.50. The Sensex recovered 283 points from lows to finish Tuesday's session 161.31 points lower at 40,894.38.

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IT and PSU stocks lead the last-hour recovery. SBI, Infosys and TCS were the top gainers. IT lifted Nifty by 12 points while financials and telecom dragged by 34 points.

The Nifty MidCap 100 index, meanwhile, lost 0.56 percent, while the banking gauge, Nifty Bank declined 0.39 percent.

Top percentage laggards on the 50-scrip index were Bharti Infratel, Yes Bank, Tata Motors, IndusInd Bank and Hindalco, ending between 2.86 percent and 111.34 percent lower. HDFC, Reliance and Bharti Airtel contributed the most to the losses on the Sensex.

Nine out of the 11 sectoral indices on the National Stock Exchange (NSE) settled lower, with the Nifty metal index ending 1.81 percent lower.

In stock-specific action, Bharti Airtel, Vodafone Idea, Bharti Infratel were under pressure on the AGR issue. Shares of TV18 Broadcast settled 14.77 higher, while Network18 Media & Investments Ltd advanced 4.87 percent on the NSE after Reliance Industries said late Monday it would merge its media and distribution businesses into its TV business, Network18 Media.

Amongst indices, PSU index gained 3 percent from lows. BEL and Oil India were the top gainers.

World stock markets, meanwhile, were knocked off record highs on Tuesday as two of the world’s mega companies reported damage from the coronavirus outbreak.

Apple’s stock fell almost 6 percent in Frankfurt and all Europe's main markets fell after the iPhone maker warned it was unlikely to meet the March quarter sales guidance it had set just three weeks ago.

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First Published:Feb 18, 2020 3:33 PM IST