Sensex Ends 1300 Points Higher On Strong Global Cues, Crude Stays Elevated

Benchmark indices ended the day higher partially recovering from the pounding seen on Thursday. Global cues particularly from Asia were strong with the Japanese Nikkei and the Hang Sang gaining in trade.

However, Europe stocks at the time of writing were trading absolutely flat, as worries on the Russia-Ukraine front continued to leave markets there slightly nervous.

The Nifty ended the day higher by 410 points, while the Sensex closed the day higher by 1328 points, after dropping for seven straight trading sessions previously.

Among the big gainers in trade was Coal India which jumped almost 8% in trade, while stocks like Tata Motors, Adani Ports and Tata Steel were the other big gainers in trade.

The broader markets too saw gains, with the midcap and the small cap indices also rallying. Overall, it was a good day of trading and the last two days of the week have seen immense volatility. Overall, for the week the Sensex was still down about 2.5%.

Investors are advised some caution as the markets are expected to be volatile in the coming days as Foreign Portfolio Investors may continue to sell Indian stocks. Analysts are advising to stay away from the markets as there could be immense volatility going ahead.

Meanwhile, Brent crude prices continued to stay above that $100 barrel a mark, which is not good for India. The rupee was little changed at 76.57 to the dollar.