Bombay, February 25
A day after suffering their worst session in about two years, Sensex and Nifty rebounded as much as 2.5% on Friday, in line with the rise in global markets as the United States and its allies united to punish Russia with tougher sanctions. The strengthening rupee and bargain-hunting by participants supported the rally, traders said.
Snapping their seven-game losing streak, the Sensex climbed 1,328.61 points to 55,858.52. Similarly, the Nifty climbed 410.45 points to 16,658.40.
With the exception of HUL and Nestlé, all Sensex shares closed with gains – with Tata Steel, IndusInd Bank, Bajaj Finance, NTPC and Tech Mahindra up 6.54%.
“Global markets took a breather as new US sanctions did not target Russia’s oil exports or their access to the SWIFT global payment network. However, the market will remain volatile following new developments in the Russian-Ukrainian war,” said Vinod Nair, Head of Research at Geojit Financial Services. —PTI
SENSEX JUMPS 1,328.61 POINTS
SNAPS 7 DAY LOSS STRING
CLOSING AT 55,858.52
NSE Nifty climbed 410.45 points to 16,658.40
Tata Steel, IndusInd Bank, Bajaj Finance, NTPC and Tech Mahindra were the main winners