The Indian benchmark indices ended higher on Wednesday as the Sensex ended over 600 points higher at 76,704 and the Nifty settled more than 196 points at 23,777.
Despite persistent uncertainty surrounding the war, equity markets staged a notable recovery, aided in part by stability in crude oil prices.
“One factor that enabled this bounce back is crude remaining around the USD 102 level and fears of spiking above USD 120 not materialising,” VK Vijayakumar, Chief Investment Strategist, Geojit Investments Ltd, said.
Asian Peers Show Mixed Trend
Across Asia, markets largely advanced. South Korea’s benchmark Kospi surged nearly 4 per cent, while Japan’s Nikkei 225 index rose over 2 per cent. However, China’s Shanghai SSE Composite index and Hong Kong’s Hang Seng index traded marginally lower.
US Markets Close Higher
Wall Street ended on a positive note on Tuesday, lending support to global sentiment.
FII Outflows Persist, DIIs Provide Cushion
Foreign Institutional Investors (FIIs) continued to pare holdings, offloading equities worth Rs 4,741.22 crore on Tuesday, as per exchange data.
In contrast, Domestic Institutional Investors (DIIs) remained net buyers, purchasing stocks worth Rs 5,225.32 crore.
“On the institutional front, continued FII selling remains a challenge. However, strong and consistent buying from DIIs has been providing stability and cushioning the downside, which is a positive sign for the domestic market,” Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said.
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