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Stock Market: Sensex Surges 1,600 Points, Nifty Above 16,600. Realty, PSU Bank Major Gainers
Stock Market LIVE: At 9:19 AM, Sensex surged 1400 points and settled at 55,681.73, whereas Nifty rose 327 points at 16,575 points. On the front of the stock, Tata Motors, Indusind Bank, UPL, Tata Steel, and Adani Ports were the top five gainers among the Nifty 50 stocks in the opening session.
New Delhi: A day after a sharp fall that was triggered after Russia announced a military operation in Ukraine, India’s key indices —BSE Sensex and NSE Nifty 50 —recovered considerably. At 9:19 AM, Sensex surged 1400 points and settled at 55,681.73, whereas Nifty rose 327 points at 16,575 points. On the front of the stock, Tata Motors, Indusind Bank, UPL, Tata Steel, and Adani Ports were the top five gainers among the Nifty 50 stocks in the opening session. Even as the equity markets are expected to be volatile in the next few days, there is nothing to worry about for long-term investors, said Ravi Singhal, Vice-Chairman, GCL Securities. Stay tuned to India.com for all the updates regarding stock market.
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The rupee recovered 32 paise to 75.28 in early trade on Friday tracking positive domestic equities and stronger Asian peers. The local currency opened on a strong note at 75.31 to a dollar at the interbank foreign exchange market and inched higher to 75.28, registering a gain of 32 paise over its previous close.
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Investors’ wealth surged by more than Rs 7 lakh crore in the first hour of trading on Friday as the broader market clawed back some of its lost ground, a day after Russia’s attack on Ukraine roiled investor sentiments. Starting off on a strong footing, the 30-share BSE Sensex soared over 1,240 points or around 2.29 per cent in early trade to touch 55,779.45 points.
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On Thursday, the Sensex crashed over 2,700 points — its biggest single-day plunge in about two years; and the Nifty nosedived 815 points. The bloodbath on Dalal Street plunged investor wealth by over Rs 13 lakh crore. Spooked by the Ukraine crisis, foreign institutional investors further offloaded shares worth Rs 6,448.24 crore in the Indian capital markets on Thursday, exchange data showed.
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All the sectoral indices are trading in the green with PSU Bank, metal and realty indices up 4-6%.
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NIFTY REALTY surges nearly 5%; only one constituent in the red.
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Oil prices jumped by more than USD 7 per barrel and futures for Wall Street’s benchmark S&P 500 index and the Dow Jones Industrial Average were off by more than 2.5 per cent. Market benchmarks in Europe and Asia fell as much as 5 per cent as traders tried to figure out how large Putin’s incursion would be and the scale of Western retaliation. Energy prices surged, fueling inflation fears. The spot price in Europe for natural gas, for which the continent relies on Russia to supply, jumped as much as 31 per cent.
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Oil prices jumped by more than USD 7 per barrel and futures for Wall Street’s benchmark S&P 500 index and the Dow Jones Industrial Average were off by more than 2.5 per cent. Market benchmarks in Europe and Asia fell as much as 5 per cent as traders tried to figure out how large Putin’s incursion would be and the scale of Western retaliation. Energy prices surged, fueling inflation fears. The spot price in Europe for natural gas, for which the continent relies on Russia to supply, jumped as much as 31 per cent.
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