Sensex Rises Over 350 Points, Nifty Trades Above 17,200; Kotak Mahindra Bank, Maruti, M&M Top Gainers

The Indian equity indices started trading in green on Wednesday, taking cues from their global peers. As of 9:19 am, the benchmark BSE Sensex rose 371 points or 0.65 per cent to 57,671; while the broader NSE Nifty moved 110 points or 0.64 per cent up to 17,201.

Asian stocks steadied and demand for safe-havens waned a little as investors regarded Russian troop movements near Ukraine and initial Western sanctions as leaving room to avoid a war.

Back home, mid-and small-cap shares were trading on a positive note as Nifty Midcap 100 index moved 0.96 per cent higher and small-cap shares jumped 1.59 per cent.

All the 15 sector gauges — compiled by the National Stock Exchange — were trading in red. Nifty PSU Bank and Nifty Auto were underperforming the index by rising as much as 1.10 per cent and 0.90 per cent, respectively.

On the stock-specific front, Kotak Mahindra Bank was the top Nifty gainer as the stock soared 1.95 per cent to ₹ 1,877.65. Maruti Suzuki India, M&M, Adani Ports and IndusInd Bank were also among the gainers.

In contrast, ONGC, L&T, Divi’s Lab, Eicher Motors and Hindustan Unilever were among the laggards.

On BSE, the overall market breadth was strong as 1,955 shares were advancing while 587 were declining.

On the 30-share BSE platform, Kotak Mahindra Bank, M&M, Maruti, IndusInd Bank, SBI and Bajaj Finance attracted the most gains with their shares up as much as 2.12 per cent.

Sensex had dropped 383 points or 0.66 per cent to close at 57,301 on Tuesday; while Nifty had moved 114 points or 0.67 per cent lower to end at 17,092.