On the basis of favourable signs from other Asian markets, Indian equities indexes stayed higher in the mid-day session. Domestic morale was upbeat, as a key IMF official stated that the successful macroeconomic management of the Covid-19 outbreak resulted in a significant rebound of India’s economy, putting the country in a better position to deal with the economic consequences of the current Ukrainian crisis.

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Asian markets were trading mostly in green with Nikkei 225 surging 315.06 points or 1.16% to 27,532.91, Jakarta Composite soared 36.42 points or 0.5% to 7,263.78, Straits Times advanced 15.40 points or 0.46% to 3,350.72 and KOSPI rose 12.65 points or 0.47% to 2,731.34. On the flip side, Taiwan Weighted dropped 30.20 points or 0.18% to 17,118.68, Shanghai Composite declined 50.31 points or 1.6% to 3,100.74 and Hang Seng decreased 364.01 points or 1.74% to 20,580.66.

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The Sensex is now trading at 57,736.13, up 698.63 points or 1.22% after ranging between 57,311.86 and 57,801.77. On the index, 28 equities advanced while only two stocks declined.

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The broader indices were trading in green with the BSE Midcap index was up by 0.85%, while the Small cap index was up by 1.20%. The top gaining sectoral indices on the BSE were IT up by 1.48%, TECK up by 1.39%, Capital Goods up by 1.36%, Consumer discretionary up by 1.26% and Consumer Durables up by 1.21%, while Metal down by 0.49% was the only losing index on BSE.

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The top gainers on the Sensex were Asian Paints up by 2.68%, Reliance Industries up by 2.15%, TCS up by 2.12%, Infosys up by 1.96% and Bajaj Finserv up by 1.70%. On the flip side, Tata Steel down by 1.57% and Power Grid down by 0.53% were the top losers.

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The Nifty is presently trading at 17,332.30, up 195.75 points or 1.14% from a low of 17,215.50 and a high of 17,350.65. On the index, there were 42 stocks that advanced and 8 stocks that declined.

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The top gainers on Nifty were Coal India up by 2.81%, Asian Paints up by 2.75%, TCS up by 2.30%, Reliance Industries up by 2.22% and Infosys up by 2.08%. On the flip side, Tata Steel down by 1.71%, JSW Steel down by 1.35%, Cipla down by 0.84%, Hindalco down by 0.60% and ONGC down by 0.57% were the top losers.