After three days of losses, equity benchmarks rose sharply on Friday as the RBI kept the policy rate at a record low and maintained its accommodating stance, but warned of inflationary pressures over the Russia-Ukraine war.

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The BSE Sensex finished the day at 59,447.18, up 412.23 points or 0.70%. Similarly, the NSE Nifty finished at 17,784.35, up 144.80 points or 0.82%.

M&M, Dr Reddy’s, Titan, Reliance Industries, Asian Paints, and Tata Steel were the best performers in the Sensex pack, with gains of 4.36%. Tech Mahindra, Maruti, NTPC, HCL Technologies, Sun Pharma, HDFC twins, and Bharti Airtel, on the other hand, were the laggards, losing up to 1.31%.

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The Sensex fell 170.49 points, or 0.28%, on a weekly basis, while the Nifty fell 113.90 points or 0.64%. The BSE smallcap index increased by 0.99%, while the midcap index increased by 0.93%.

Power climbed the highest among BSE sectoral indexes, with a rise of 1.99%, followed by FMCG (1.93%), basic materials (1.91%), utilities (1.81%), and oil & gas (1.76%).

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The bank, auto, and realty indexes, which are all interest-rate sensitive, finished 0.56%, 0.64%, and 0.15% higher, respectively. There were 2,293 stocks that rose, 1,092 that fell, and 124 that stayed constant.

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Despite concerns about the Ukraine conflict and the US Federal Reserve’s policy tightening, global markets ended the day in the green. Markets in Seoul, Shanghai, Hong Kong, and Tokyo all concluded the day in the green. In early trades, European markets were also trading higher. In the overnight session, stocks in the United States also gained.

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Brent crude, the international oil benchmark, rose 0.65% to USD 101.2 a barrel. The rupee gained 10 paise against the US dollar to close at 75.93.