Sensex Rises 227 Points, Nifty Trades Over 17,150; Kotak Bank, Maruti Among Top Gainers

In the broader markets, the BSE Midcap and Smallcap indices were in the positive territory in line with the headline indices, up 0.9 and 1.4 per cent, respectively

New Delhi: The key equity indices, Sensex and Nifty, on Wednesday started trade on a positive note ending the fifth straight losing session taking cues from global peers. According to analysts, global markets regrouped, hoping that Western world sanctions on Russia might soften Moscow's defiant tone and leave some room to avoid a war.

At 9.45 am, the 30-share BSE Sensex clocked 57,527, up 227 points, while NSE Nifty was at 17,169, up 76 points.

Among the Sensex platform, Kotak Bank, Maruti, M&M, Titan, SBI, Bajaj Finance, IndusInd Bank, Asian Paints, and Tata Steel were the top gainers, up to 2 per cent higher. Tata Motors, Tata Consumer, Coal India and Adani Ports were the additonal gainers on the Nifty.

On the flipside, ONGC, Divis Labs, Eicher Motors, and L&T were the only losers on the bourses, down up to 0.4 per cent. 

In the broader markets, the BSE Midcap and Smallcap indices were in the positive territory in line with the headline indices, up 0.9 and 1.4 per cent, respectively.   

Sectorally, all the Nifty indices were trading in the positive zone, with maximum gains in Nifty Realty, up 2 per cent. Realty shares were followed by PSBs, up 1.6 per cent. Other notable gainers included Nifty Auto, Financials, Consumer Durables, and Metals, all 0.6-1 per cent higher.

All the 15 sector gauges, compiled by the National Stock Exchange, were trading in red. Nifty PSU Bank and Nifty Auto were underperforming the index by rising as much as 1.10 per cent and 0.90 per cent, respectively.

In the previous session on Tuesday, Sensex declined 383 points to close at 57,301; while Nifty had moved 114 points lower to end at 17,092.

Elsewhere in Asia, bourses were mostly trading with gains, hoping that war in Ukraine can be avoided after US, Japan and European powers imposed sanctions on Russia. Stocks closed lower on Wall Street on Tuesday, after Russia sent forces into Ukraine's eastern regions, escalating tensions.

Meanwhile, Brent crude futures were at $96.74 a barrel, having eased off Tuesday's top of $99.50.

Foreign institutional investors continued their selling spree in Indian markets as they offloaded shares worth Rs 3,245.52 crore on a net basis on Tuesday, according to exchange data.