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By Malvika Gurung
Investing.com — Indian benchmark equity indices snapped a 7-day losing run and ended higher, a day recording their worst falls in 21 months.
Headline indices and surged 2.53% and almost 1,330 points or 2.44% higher, mirroring an overnight rally on Wall Street and positive cues from Asian markets.
Domestic investors used steep corrections in the market to pick up stocks at depressed prices. An analyst from Motilal Oswal (NS:) advises traders to remain cautious of sharp volatility, adding that investors could use the current dip to add quality blue-chip stocks to their portfolios.
Investors on Dalal Street gained Rs 8 lakh crore-worth wealth on Friday, after losing Rs 13.6 lakh crore in the session yesterday, recouping over 50% of their losses.
Broader market indices outperformed their headline peers, with rising 4.84% and surging 4.2%, clocking its biggest gain since Apr 2020.
Gains were led by financial, oil and gas, and IT stocks.
All sectoral indices on the Nifty basket ended in the green, led by gaining 5.74%, recording its highest level in 2 years. ended 3.4% higher.
On the Nifty50 index, all stocks ended higher, except Hindustan Unilever (NS:), Nestle (NS:) India and Brittannia. Coal India (NS:) zoomed 9%, followed by Tata Motors (NS:), Tata Steel (NS:) and Adani (NS:) Ports, rising between 6.5-8%.
On the 30-scrip Sensex, 28 stocks ended higher.
Market experts suggest investors to remain cautious, as volatility will remain in the market, tracking updates on the Russia-Ukraine issue.
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