Tracking positive cues from global markets, domestic indices rally

Mumbai, February 25

A day after suffering their worst session in about two years, Sensex and Nifty rebounded up to 2.5% on Friday, in line with higher global markets as the US and allies put up a united front to punish Russia with harsher sanctions. A strengthening rupee and bargain hunting by participants supported the recovery, traders said.

Snapping its seven-day losing streak, the Sensex climbed 1,328.61 points to settle at 55,858.52. Similarly, the Nifty soared 410.45 points to 16,658.40.

Barring HUL and Nestle, all Sensex shares closed with gains — with Tata Steel, IndusInd Bank, Bajaj Finance, NTPC and Tech Mahindra surging as much as 6.54%.

“Global markets took a breather as the fresh US sanctions did not target Russia’s oil exports nor their access to the SWIFT global payment network. However, the market will continue to remain volatile tracking new developments in the Russia-Ukraine war,” said Vinod Nair, Head of Research at Geojit Financial Services. — PTI

SENSEX JUMPS 1,328.61 POINTS

SNAPS 7-DAY LOSING STREAK

CLOSES AT 55,858.52

NSE Nifty soared 410.45 points to 16,658.40

Tata Steel, IndusInd Bank, Bajaj Finance, NTPC and Tech Mahindra were top gainers