Sensex surges over 470 points while Nifty around 17,460 in early trade

The Sensex and Nifty rose for the third day in a row on Wednesday, with the BSE gauge rising almost 479 points in early trade, aided by buying in HDFC twins and ICICI Bank, as well as positive trends in global equities after progress in Russia-Ukraine peace negotiations.

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The 30-share BSE barometer was up 478.76 points to 58,422.41. Similarly, the NSE Nifty advanced 142.85 points to 17,468.15.

UltraTech Cement, Bajaj Finance, Bharti Airtel, Asian Paints, HDFC, IndusInd Bank, Bajaj Finserv, and ICICI Bank were among the early gainers within the 30-share pack. Tata Steel, Tech Mahindra, Sun Pharma, Dr Reddy’s, NTPC, and Titan, on the other side, were laggards.

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The BSE benchmark had risen 350.16 points, or 0.61%, in the previous trading to end at 57,943.65. The NSE Nifty rose 103.30 points, or 0.60%, to 17,325.30.

In other Asian markets, Seoul, Shanghai, and Hong Kong were trading higher, while Tokyo was trading down during mid-session trades. On Tuesday, stock markets in the United States concluded with gains.

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“US equities extended gains and closed higher as Russia-Ukraine peace talks reinstated optimism among investors. The Dow Jones Industrial Average rose 1 per cent. The S&P 500 index jumped 1.2 per cent while the tech-heavy Nasdaq Composite increased 1.8 per cent,” Mitul Shah, Head of Research at Reliance Securities, said.

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According to stock market statistics, Foreign Institutional Investors (FIIs) bought shares worth Rs 35.47 crore on Tuesday.

Meanwhile, Brent crude, the international oil benchmark, rose 0.66% to USD 111.03 per barrel. In early trade, the rupee advances 4 paise to 75.69 against the US dollar.