While both Sensex and Nifty faced losses at the start of the day’s session, the markets bounced back on the back of rally in metal stocks and hopes for negotiations between Ukraine and Russia
Domestic benchmarks BSE Sensex and NSE Nifty 50 on Monday, 28 February, ended a highly volatile session with gains. Sensex closed 388.76 points up at 56,247.28, while Nifty gained 0.81 per cent to 16,793.90.
While both Sensex and Nifty faced losses at the start of the day’s session, the markets bounced back on the back of rally in metal stocks and hopes for negotiations between Ukraine and Russia.
According to reports, metal stocks surged on hopes that limiting Russian exports due to sanctions would help Indian steelmakers gain a bigger share of the export market.
India VIX gained 6.84 per cent to 28.57 levels. BSE Midcap gained 0.83 per cent to 23,355.61, while BSE Smallcap rose 0.80 per cent to 26,662.33. Metal surged 4.95 per cent up, followed by oil and gas and consumer durables as the biggest gainers.
Bombay Stock Exchange (BSE):
BSE Sensex closed the day 56,247.28, registering a gain of 0.70 per cent or 388.76 points. The top gainers were Tata Steel, Power Grid, Reliance, Titan and NTPC. The top laggards were Dr Reddy’s, Mahindra & Mahindra, Axis Bank, HDFC Bank and HDFC.
Top BSE gainers:
Tata Steel: The shares surged 6.61 per cent to Rs 1,220.90
Power Grid: The shares jumped 6.03 per cent to end at Rs 209.20
Reliance: With a gain of 3.29 per cent, the value of the company gained to Rs 2,359.10
Titan: The value of the shares rose 3.11 per cent to Rs 2,544.65
NTPC: With a gain of 2.46 per cent, the shares closed the day at Rs 133.60
Top BSE losers:
Dr Reddy’s: The shares declined 2.81 per cent to Rs 4,062.95
Mahindra & Mahindra: The value of the company slid 2.07 per cent to Rs 790.95
Axis Bank: The company’s value settled 2.05 per cent lower at Rs 742.60
HDFC Bank: With a loss of 1.99 per cent, the shares declined to Rs 1,426.70
HDFC: The shares slipped 1.56 per cent to settle at Rs 2,365.00
National Stock Exchange (NSE):
NSE Nifty 50 closed the day 0.81 per cent or 135.50 points higher at 16,793.90. Bank Nifty slipped 0.62 per cent to 36,205.30.
Top NSE gainers:
Hindalco: The value of the company jumped 7.16 per cent to Rs 572.15
Tata Steel: The shares surged 6.33 per cent to Rs 1,217.90
Power Grid: With a gain of 5.58 per cent, the value of the company rose to Rs 208.30
JSW Steel: The shares ended the day 4.58 per cent higher at Rs 626.00
BPCL: The shares gained 3.91 per cent to end the day at Rs 349.50
Top NSE losers:
HDFC Life: The shares declined 2.95 per cent to Rs 523.00
Dr Reddy’s: With a fall of 2.67 per cent, the value of the company declined to Rs 4,064.95
Axis Bank: The shares slipped 2.16 per cent to Rs 741.70
Mahindra & Mahindra: With a loss of 2.04 per cent, the shares fell to Rs 791.10
HDFC Bank: The value of the company settled 1.87 per cent lower at Rs 1,428.80