Indices Log Best Intra-day Gains In More Than A Year; Nifty Ends 500 Pts. Higher

After Monday's mayhem, Indices have rebounded by a sharp quantum with Nifty gaining over 500 points in intra-day trade and Sensex also inched higher by 1736 points or over 3%. Broader markets too had their day with Nifty Midcap 100 zooming as much as 816 points

Indices Log Best Intra-day Gains In More Than A Year; Nifty Ends 500 Pts. Higher

The market sentiment seems to have improved on easing Ukraine tensions. As per the defence ministry spokesman who is referred in news agencies said that some of the forces have been returning back to their bases from the Ukrainian border, "Units of the Southern and Western military districts, having completed their tasks, have already begun loading onto rail and road transport and today they will begin moving to their military garrisons."

Meanwhile, traders are also watchful of the Fed's intent on the rate hike plan when it meets next in March.

Top Nifty gainers in day today have been Tata Motors, Eicher Motors, Shree Cements, Hero Motocorp and Bajaj Finance, while Nifty losers have been Cipla and ONGC.

Among Nifty sectoral indices, there is a sea of green with Nifty Auto and Nifty PSU Bank being the most resilient up over 4%, while Nifty Pharma has been the weakest in trade up by less than 1%.

The healthy gains on the indices have come off even as the CPI inflation revealed yesterday came in higher than the RBI's tolerance band for January month and also the trade deficit widened.

Meanwhile, European stocks have also been moving higher as Russia said it moved some troops back to the base.

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