Share market soars: Why Russia-Ukraine war is not bothering investors
India Today
As of now, the sanctions on Russia do not cover oil and gas trade, so that is also a positive for emerging markets like India, experts said.
Share market rose about 3 per cent on Friday, a day after Russia's attack on Ukraine pushed it to the biggest fall in over a year, as investors brushed off broader risks stemming from the geopolitical crisis.
The blue-chip NSE Nifty 50 index gained 3.01 to 16,736.30, with most of its major sub-indexes trading higher. The S&P BSE Sensex was up 2.78 per cent at 56,044.26.
Both the indexes, however, were set to post their third straight weekly loss.
"Equity markets right now are of the view that no other country would interfere in the war as such, physically. So, the (Russia-Ukraine) crisis may be over by the weekend and that is what the market is pricing in," said Neeraj Dewan, director at Quantum Securities, according to Reuters report.
As of now, the sanctions on Russia do not cover oil and gas trade, so that is also a positive for emerging markets like India, Dewan said.
Among individual shares and sectors, the Nifty public sector banking index .NIFTYPSU and the Nifty Realty index .NIFTYREAL were the top gainers, rising 5.8 per cent and 5.2 per cent, respectively.
Apollo Hospitals Enterprise APLH.NS rose as much as 7.5 per cent after the National Stock Exchange said it would be added in the Nifty 50 index from March 31, replacing Indian Oil Corp IOC.NS.
