Sensex rallies over 1,000 pts, Nifty nears 17,000

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Photo source: PTI

According to the provisional data, foreign institutional investors (FIIs) remained net sellers in the capital market, raising Rs 1,249.74 crore on Tuesday.

Highlights

  • The equity benchmark Sensex rose above 1,000 points on Wednesday to recover at the 56,000-level
  • Strong global indicators also supported domestic indicators, traders said.
  • The NSE Nifty jumped 312.35 points, or 1.87 percent, to 16,975.35.

The equity benchmark Sensex rose more than 1,000 points to recover to 56,000 on Wednesday, driven by sharp buying in IT, banking and financial stocks amid hopes of progress in Russia-Ukraine talks.

Strong global indicators also supported domestic indicators, traders said.

The 30-share BSE index rose 1,039.80 points, or 1.86 percent, to close at 56,816.65. Similarly, the NSE Nifty jumped 312.35 points, or 1.87 percent, to 16,975.35.

Ultratech Cement was the top gainer in the Sensex pack, up nearly 5 per cent, followed by Axis Bank, IndusInd Bank, HDFC, Bajaj Finserv, Infosys and Bajaj Finance.

On the other hand, Sun Pharma and Powergrid were lagging behind.

Elsewhere in Asia, markets in Tokyo, Seoul, Hong Kong and Shanghai closed with healthy gains.

European stock exchanges were also trading significantly higher in mid-session deals.

Ukraine, meanwhile, says there is potential room for negotiations with Russia, even as Russian forces have intensified their bombing of Kiev.

Ukraine’s President Volodymyr Zelensky said on Wednesday that Russia’s demands were becoming more realistic. The two countries may resume talks on Wednesday.

International oil benchmark Brent crude rose 2.94 percent to 2 102.85 a barrel.

According to the provisional data, foreign institutional investors (FIIs) remained net sellers in the capital market, raising Rs 1,249.74 crore on Tuesday.

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