Sensex rises over 300 points, Nifty closes at 16,793 as energy, metal stock gain
India Today
NSE Nifty 50 index ended up 0.81 per cent at 16,793.90, while the S&P BSE Sensex rose 0.70 per cent or 388.76 points to 56,247.28.
The Sensex and Nifty recovered early losses to close higher on Monday as energy and metal stocks gained, while shares of Future Group companies rose on reports Reliance would take over its retail stores.
The blue-chip NSE Nifty 50 index ended up 0.81 per cent at 16,793.90, while the S&P BSE Sensex rose 0.70 per cent or 388.76 points to 56,247.28 ahead of domestic economic growth data due later in the day and a meeting between Ukraine and Russia.
Indian markets will be closed on Tuesday for a holiday.
"Markets are in heightened volatility, it is simply responding to the news on the Ukraine front. Now there are hopes that something positive might come out of talks between Russia and Ukraine," said V.K. Vijayakumar, chief investment strategist at Geojit Financial Services, according to a Reuters report.
The Ukrainian presidency said on Monday a delegation arrived at the border with Belarus for talks with Russian representatives that will focus on achieving an immediate ceasefire and the withdrawal of Russian forces. Read full story
India's GDP data is set to be released at 1200 GMT. The country's economy likely grew 6 per cent year-on-year during the three months ended December 2021, with fears growing over slowing momentum after Russia's invasion of Ukraine, a Reuters survey of economists showed last week.
India is the world's third-largest importer of oil, and high prices percolate through the economy and hurt consumers, while also widening the country's current account deficit.
