Building on Tuesday’s spectacular rebound, the 30-share Sensex added over 300 points in the opening session but soon lost ground and slipped into the red.
Building on Tuesday’s spectacular rebound, the 30-share Sensex added over 300 points in the opening session but soon lost ground and slipped into the red.
Equity benchmarks Sensex and Nifty opened on a choppy note on Wednesday, tracking weakness in index heavyweights Reliance Industries, SBI and ICICI Bank.
Building on Tuesday’s spectacular rebound, the 30-share Sensex added over 300 points in the opening session but soon lost ground and slipped into the red.
The benchmark was last quoted at 58,124.02, down 18.03 points or 0.03%. The NSE Nifty was down 2.05 points or 0.01% at 17,350.40.
Tata Steel was the top laggard in the Sensex pack, falling nearly 1.45 per cent, followed by L&T, ICICI Bank, SBI and UltraTech.
On the other hand, M&M, HDFC, Dr Reddy’s, PowerGrid and Kotak Bank were among the gainers.
US stocks ended sharply higher on Tuesday, with all three major benchmarks breaking a three-day losing streak.
Deepak Jasani, head of retail research, said: “Investors read recent developments in western Russia as a sign of a reduction in hostility, even as US President Joe Biden cautioned that Russia’s attack on Ukraine should Still being seen as imminent.” HDFC Securities.
On Tuesday, the Sensex closed at 58,142.05, up 1,736.21 points or 3.08%. This was its biggest one-day jump since February 1, 2021. Similarly, the NSE Nifty was up 509.65 points or 3.03% at 17,352.45.
Elsewhere in Asia, exchanges were trading higher in afternoon deals on Wednesday as fears of a Russian invasion of Ukraine ended this week.
Global crude oil benchmark Brent futures fell 0.19% to $93.06 a barrel.
Foreign institutional investors (FIIs) were net sellers in the capital market on Tuesday as they sold shares worth Rs 2,298.76 crore, according to stock exchange data.
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