Indian shares rose for the third day running on Thursday, with buying seen across the board amid positive global cues and a decisive victory for the BJP in Uttar Pradesh elections.
The U.S. stock markets witnessed their biggest jump since June 2020 overnight and markets elsewhere across Asia posted strong gains as a sharp fall in oil prices eased inflation fears.
Sentiment was helped after Ukrainian President Zelensky stated that he is prepared to compromise on the status of the two breakaway pro-Russian territories and dropped the push to join the NATO alliance.
The benchmark 30-share BSE Sensex ended the session up 817.06 points, or 1.50 percent, at 55,464.39 while the broader NSE Nifty index climbed 249.55 points, or 1.53 percent, to 16,594.90.
Both the indexes ended off their day’s highs, tracking weakness in European markets after reports suggested that Ukraine and Russia were making no progress towards agreeing on a ceasefire.
Ukraine and Russia made little apparent progress in halting the war and bridging the vast differences between them at the first high-level talks between their foreign ministers since the Russian invasion began.
Russia indicated it will continue attacks until Ukraine meets its demand. “My impression is that Russia is not in a position at this point to establish a ceasefire”, Ukrainian Foreign Minister Dmytro Kuleba told reporters after the meeting lasting about 90 minutes with his Russian counterpart Sergei Lavrov in Turkey.
Sensex, Nifty Extend Gains For Third Day
2022-03-10 11:39:52
