Oil prices posted the deepest plunge in more than three years in the international market. Brent crude, used to price international oils, dropped to $65.17 a barrel. Oil has now fallen roughly 30 percent for 12 straight days, driven by worries over rising oil production around the world and weakening demand from developing countries, with expectations for increased supply from the US and OPEC.

Other paint stocks too gained in early trade. While Berger Paints gained 5.30% to 325 level, Shalimar Paints rose 2.56% to 88.20. Kansai Nerolac Paints too rallied 4.85% to 421.25 level on the BSE. Crude oil is a key raw material in the production of paints.

Ruchit Jain, Technical Analyst at Angel Broking, takes viewers through all the market action today. The equity benchmark Sensex Tuesday recouped nearly 332 points following robust buying in energy, infra and banking stocks amid easing crude oil prices and strong recovery in the rupee. Similarly, the broader NSE Nifty jumped over 100 points to cross the key 10,500 level.

The move comes in the wake of the Infrastructure Leasing & Financial Services (IL&FS) default, wherein the role of credit rating agencies (CRAs) came under the regulatory scanner.

Brent crude prices were trading at $68.15 per barrel, down 2.08% from their previous close. Benchmark US crude fell 78 cents to $59.15 per barrel in electronic trading on the New York Mercantile Exchange. The contract sank 26 cents on Monday to $59.93.

However, most Asian markets ended lower after a rout in tech stocks, tracking a hefty sell-off on Wall Street, while the dollar hit a 16-month peak on safe haven bets amid China-US trade war worries.

When positive and negative forces emerge in quick succession, market oscillates between optimism and pessimism, favouring the bulls and bears in alternate bouts of buying and selling.

Tata Motors (4.84%), Hero MotoCorp (3.82%) and PowerGrid 2.87% were the top Sensex losers. Of 30 Sensex stocks, 25 closed lower.

While the SpiceJet stock fell up to 4.12%, InterGlobe Aviation declined up to 4.43%.  The Jet Airways stock too lost 6.54% on the BSE.