Sensex, Nifty rebound 2% tracking recovery in Asian markets
The Hindu
On Thursday, the Sensex crashed over 2,700 points — its biggest single-day plunge in about two years.
Domestic equity benchmarks Sensex and Nifty rebounded over 2% in opening trade on Friday in line with higher Asian bourses as investors assessed long-term risks of the Ukraine conflict.
The BSE Sensex climbed 1,140.58 points or 2.09% to trade at 55,670.49 in opening deals, and the NSE Nifty traded higher by 344.10 points or 2.12% at 16,592.05.
On the Sensex chart, IndusInd Bank, Tata Steel, Bajaj Finance, Bajaj FinServ and SBI emerged as top gainers — rising as much as 6%.
On Thursday, the Sensex crashed over 2,700 points — its biggest single-day plunge in about two years; and the Nifty nosedived 815 points. The bloodbath on Dalal Street plunged investor wealth by over ₹13 lakh crore.
Spooked by the Ukraine crisis, foreign institutional investors further offloaded shares worth ₹6,448.24 crore in the Indian capital markets on Thursday, exchange data showed.
Asian shares were higher on Friday, driven by a rebound in U.S. equities as more sanctions were announced against Russia for its actions in Ukraine.
Meanwhile, the U.S., EU and Japan are putting on a united front to support Ukraine and agreed on a second tranche of economic and financial sanctions on Russia.
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