Major benchmark indices climbed for a second straight day on Wednesday as investors continued to assess the impact of the Russia-Ukraine crisis. However, Ukrainian President Volodymyr Zelensky’s alleged statement that his country has cooled down on the question of NATO membership calmed investors’ nerves. At close, Sensex was up 1,223.24 points or 2.29% at 54,647.33 and Nifty was up 331.90 points or 2.07% at 16,345.40. Around 2585 shares have risen, 681 shares have declined and 90 shares have remained unchanged.
Asian Paints, Reliance Industries, Bajaj Finance, M&M and IndusInd Bank were the top gainers in Nifty. On the other hand, Shree Cements, Power Grid Corporation, ONGC, NTPC and Coal India were the biggest losers.
Sector-wise, the Nifty Metal index fell 0.4 per cent for the second day in a row. Nifty Realty and Auto indices, meanwhile, were up 3 per cent each; Nifty Bank, Financial Services, Private Bank and PSB indices rose 2 per cent each; On the other hand, Nifty IT and Pharma indices rose 1 per cent.
Mohit Nigam, PMS Head, Hem Securities, said: “Despite rising oil prices due to US import ban on Russian oil, Indian benchmark indices were off to a strong start today. BSE saw buying with stocks on the regional front. Energy. Most attention was drawn from , TECK and IT counters. General market breadth is in favor of growth today. European markets rallied as buyers bought recently sold shares in the market. After the announcement of Ukrainian President Zelensky After the country was no longer interested in NATO membership, investors bought beaten-down shares in hopes of easing the Russo-Ukraine war.”
“The net domestic positive inflows are currently sustaining the massive outflows witnessed by FIIs on a daily basis. Strong SIP inflows of Rs 11k crore monthly, which continues to expand, accounted for a major portion of the positive inflows.” , pharma and finance stocks, even though the Ukraine crisis remained an overhang. World equities were mixed as participants tracked Russia’s sharp attack on Ukraine and the cascade of sanctions against Moscow,” the corporation said.
global signal
US stocks lost more ground on Tuesday after President Joe Biden imposed sanctions on imports of Russian petroleum, and more major firms announced they were closing operations in Russia. The Dow Jones Industrial Average ended the session down 0.6 percent at 32,632.64, its lowest in nearly a year. The broad-based S&P 500 fell 0.7 percent to 4,170.7, while the tech-rich Nasdaq Composite fell 0.3 percent to 12,795.55.
Tokyo shares opened higher on Wednesday after three days of losses, amid continued uncertainty ahead of Russia’s invasion of Ukraine and key events and data set for this week. The benchmark Nikkei 225 index was up 0.41 per cent, or 101.80 points, at 24,892.75 in early trade, while the broader Topix index was up 0.38 per cent, or 6.65 points, at 1,766.51.
The Hang Seng index rose 0.26 per cent, or 54.15 points, to 20,820.02. The Shanghai Composite Index rose 0.31 per cent, or 10.18 points, to 3,303.71, while the Shenzhen Composite Index rose 0.19 per cent, or 4.12 points, to 2,143.79 on the second exchange of China.
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