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The key benchmark indices started the week on a positive note amid concerns of rising in geo-political tensions after Russian missiles hit a large Ukrainian base near NATO-member Poland’s border on Sunday. At 09:16 IST, the Sensex was up 285.10 points or 0.51 per cent at 55835.40, and the Nifty was up 68 points or 0.41 per cent at 16698.50. About 1594 shares have advanced, 513 shares declined, and 111 shares are unchanged.
On the Sensex, HDFC Bank, Infosys, ICICI Bank, HDFC, SBI, Asian Paints, Tech M, Bajaj Finserv, and Wipro were the leading frontrunners.
The broader markets were also firmly up with the BSE MidCap and SmallCap indices upto 0.4 per cent higher.
Among individual stocks, HDFC Bank gained 4 per cent in opening trades as the Reserve Bank of India lifted all restrictions on HDFC Bank, permitting it to launch new digital initiatives.
Among others, Paytm tanked 12 per cent on the BSE after the central bank directed Paytm Payments Bank to stop onboarding new customers and ordered a IT audit.
Sectorally, Nifty Bank, IT, and Media indices were the leading gainers, up to 1 per cent up, while Auto, Realty, Metals and Oil & Gas indices were the top laggards.
Mohit Nigam, Head – PMS, Hem Securities, said: “The markets showed a directional bias for the fourth consecutive day on Friday as it closed with meager gains. Investor sentiments were boosted on the back of BJP’s win in UP which is considered a gateway to Lok sabha elections. As the new week starts investor sentiments will again shift towards the ongoing tussle between Ukraine and Russia. Investors will also be eyeing the rising crude oil prices and their impact on domestic prices and the economy as a whole. It will be interesting to watch when the government will hike the domestic fuel prices.”
Global Cues
Wall Street ended a downbeat week with further losses Friday as traders braced for continued economic fallout from Russia’s invasion of Ukraine as well as looming Federal Reserve rate hikes, though European indices saw gains. The Dow Jones Industrial Average fell 229.88 points, or 0.69%, to 32,944.19, the S&P 500 lost 55.21 points, or 1.30 per cent, to 4,204.31 and the Nasdaq Composite dropped 286.15 points, or 2.18 per cent, to 12,843.81.
Asian shares advanced on Monday on hopes for progress in Russian-Ukraine peace talks. While Russian missiles hit a large Ukrainian base near the border with Poland on Sunday, both sides gave their most upbeat assessment yet of prospects for talks. Japan’s Nikkei rose 1.1 per cent, while MSCI’s broadest index of Asia-Pacific shares outside Japan inched up 0.1 per cent after sliding almost 4 per cent last week.
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