Sensex Rises 740 Points, Nifty Ends Nearly 17,500 On Ukraine-Russia Peace Talks

Sensex and Nifty settled higher for a third consecutive session today.

New Delhi:

Indian equity benchmarks on Wednesday extended gains for a third consecutive session amid signs of progress in Ukraine-Russia peace talks. Most global equity markets responded positively to Russia’s assurances to reduce its military operations near the Ukrainian capital Kyiv and surrounding cities.

Homeland, 30 shares of the BSE Sensex jumped 740 points or 1.28 percent to close at 58,684, while the broader NSE Nifty rose 173 points or 1 percent higher to close at 17,498.

Medium and small -cap stocks closed stronger as the Nifty Midcap 100 index rose 0.85 percent lower and small -cap stocks jumped 0.97 percent.

11 of the 15 sector gauges – compiled by the National Stock Exchange – end in green. Nifty Financial Services and Nifty Bank outperformed the index by rising by 1.96 per cent and 1.36 per cent, respectively.

In terms of niche stocks, HDFC Life was Nifty’s most profitable as the stock jumped 3.50 per cent to Rs 541.30.

Bajaj Finserv, Tata Consumer Products, Bajaj Finance and PowerGrid are also among the beneficiaries.

The overall market size was negative as 2,118 stocks rose while 1,284 declined on the BSE.

On the BSE 30 -stock index, Bajaj Finserv, M&M, Bajaj Finance, PowerGrid, HDFC, ICICI Bank and Nestle India are among the most profitable.

Tata Consumer Products jumped 3 per cent to Rs 765.50 after deciding that it would merge Tata Coffee with itself. Tata Coffee shares jumped 8.54 per cent to Rs 213.

In contrast, ITC, Tata Steel, Tech Mahindra, Bharti Airtel, Titan, Wipro and IndusInd Bank got red results.

In addition, shares of Oil and Natural Gas Corp (ONGC) fell 5.38 per cent to Rs 161.80 after the oil producer said the Center would sell a stake of up to 1.5 per cent in the company.


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