Sensex Gains 200 pts, Nifty Above 16,000 Amid Mixed Global Cues; IndiGo, SpiceJet Surge up to 6%

Key benchmark indices extended gains into a second session on Wednesday as investors continued to assess the impact of the Russia-Ukraine crisis. At 09:16 IST, the Sensex was up 142.42 points or 0.27 per cent at 53566.51, and the Nifty was up 41.90 points or 0.26 per cent at 16055.40. About 1465 shares have advanced, 310 shares declined, and 57 shares are unchanged.

Sensex gains were led by Titan, IndusInd Bank, Infosys, PowerGrid, Sun Pharma, Tech M, Dr Reddy’s. Asian Paints, Kotak Bank, ICICI Bank, Nestle, Bharti Airtel, meanwhile, were the top losers. In the broader markets, the BSE MidCap and SmallCap indices were in the positive territory, up to 0.7 per cent higher.

 Market benchmarks ratcheted higher in a see-saw session on Tuesday after four days of steep declines as investors accumulated recently-battered IT, pharma and finance stocks even as the Ukraine crisis remained an overhang. World equities were mixed as participants tracked Russia’s intensifying attack on Ukraine and the cascade of sanctions against Moscow.

Global Cues

US stocks lost more ground on Tuesday after President Joe Biden imposed a ban on imports of Russian petroleum, and more major firms announced they were shutting operations in Russia. The Dow Jones Industrial Average fell 0.6 percent to finish the session at 32,632.64, the lowest in nearly a year. The broad-based S&P 500 dropped 0.7 percent to end at 4,170.7, while the tech-rich Nasdaq Composite lost 0.3 percent to 12,795.55.

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Tokyo stocks opened higher on Wednesday after three days of losses, amid continued uncertainty over Russia’s invasion of Ukraine and ahead of key events and data due this week. The benchmark Nikkei 225 index was up 0.41 percent or 101.80 points at 24,892.75 in early trade, while the broader Topix index was up 0.38 percent or 6.65 points at 1,766.51.

The Hang Seng Index added 0.26 percent, or 54.15 points, to 20,820.02. The Shanghai Composite Index gained 0.31 percent, or 10.18 points, to 3,303.71, while the Shenzhen Composite Index on China’s second exchange edged up 0.19 percent, or 4.12 points, to 2,143.79.

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