Crude price retreat lifts sentiment

The Sensex recovered on Tuesday after an almost 800-point walloping in the previous session as investors took comfort from the moderation in crude oil prices, in the absence of new developments in the tense situation between the United States and Iran.

However, investors continued to remain cautious on global political developments, which led to the the benchmark indices giving up part of their gains.

Gold prices also retreated on Tuesday from near seven-year highs reached in the previous session as investors booked profits.

The Sensex opened higher at 40983.04 and hit a peak of 41230.14 — a gain of almost 554 points — as crude oil prices came off their highs.