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Mumbai: Domestic stock markets regained momentum due to vigorous buying in the last phase of trading on Tuesday. Due to nearly 3 percent fall in crude oil prices and buying by investors, BSE Sensex closed at 77,656.09 points, rising by 286.98 points or 0.37 percent. Similarly, NSE Nifty reached 24,334.55 points with a gain of 115.50 points or 0.48 percent.

However, the market remained weak most of the time. The Sensex touched a low of 77,125.91 points during trading, while it reached a high of 77,666.39 points. That is, a fluctuation of 243.2 points was seen in the index during the day.

Last hour buying changed the market trend

Sensex and Nifty were under pressure in early trading, but before the end of trading, investors increased buying in selected stocks. Due to this, both the major indices made a spectacular comeback from the low levels.

Among the 30 Sensex companies, shares of InterGlobe Aviation, Adani Ports, Infosys, Trent, Titan and State Bank of India were the major gainers. On the other hand, shares of Eternal, HCL Tech, Power Grid and Bajaj Finserv declined.

Brent crude fell by almost 3 percent

The biggest support to the market came from the softening of crude oil prices. Brent crude, the international oil benchmark, fell nearly 3 percent to $89.32 a barrel.

According to Vinod Nair, Head of Research, Geojit Investments Limited, the expected US sanctions on Iran were not as stringent as the market had expected. This softened the recent highs in crude oil prices and bond yields.

Relief in energy costs also supported market sentiment and major indices managed to close at positive levels on the day of expiry of monthly futures and options deals.

Mixed trend in Asian markets also

Among the major markets of Asia, South Korea's Kospi, Japan's Nikkei and China's Shanghai SSE Composite closed with gains. At the same time, Hong Kong's Hang Seng remained in slight decline.

A bullish trend was seen in European markets during afternoon trading. Earlier, American markets had closed with a decline on Monday.

FII purchased Rs 1,181 crore

The activities of foreign investors were also positive for the market. According to stock market data, foreign institutional investors (FIIs) made net purchases of shares worth Rs 1,181.66 crore on Monday.

Earlier on Monday, Sensex fell 171.72 points to 77,369.11 and Nifty fell 32.95 points to close at 24,219.05.