Sensex clocks biggest rally in one year, Nifty zooms 500 pts amid easing of Russia-Ukraine tensions

The Indian equity market staged a strong rebound today, erasing almost all losses from the previous session. Global market sentiment turned positive amid signs of easing tensions between Russia and Ukraine.

Sensex ended 1,736 points higher at 58,142 and Nifty rose 509 points to 17,352.

The  30-stock closed index logged its biggest single day rally in one year.

Bajaj Finance, SBI, Bajaj Finserv, L&T and Titan were the top Sensex gainers, rising up to 5.13%.

All Sensex stocks ended in the green. Market cap of BSE-listed firms rose to Rs 261.81 lakh crore on BSE.

Market breadth was positive with 2,056 stocks ending higher against 1,316 stocks closing lower on BSE. 92 shares were unchanged.

BSE mid cap and small cap indices rose 626 points and 542 points, respectively.

Share Market updates: Sensex rises 1,736 points, Nifty ends above 17,350, Bajaj twins top gainers

Banking, consumer durables  and IT shares were the top sectoral gainers on BSE. BSE bankex zoomed 1,459 points, consumer durables  index surged 1,277 points and the BSE IT index rising 1025 points.

All 19 BSE sectoral indices closed in the green.

India VIX, the stock market's volatility index, fell 10.31% to 20.67, indicating reduced volatility in trade today.

On Monday, Sensex and Nifty slipped to their 10-month lows, in line with weak global markets which were impacted by the ongoing Russia-Ukraine tensions.

Sensex tanked 1,747 points to 56,405 and Nifty slipped 531 points to 16,842. India VIX, the market's volatility index, zoomed 22.97% to 22.97, signaling heightened volatility across the stock market.

Foreign institutional investors (FIIs) sold shares worth Rs 4, 253 crore on February 14, and domestic institutional investors (DIIs) lapped up shares worth Rs 2,170 crore, as per provisional data available on NSE.

Global markets

European benchmarks jumped early Tuesday as the Kremlin and the West held out the possibility of a diplomatic path out of the Ukraine crisis. Asian shares were mostly lower.

France's CAC 40 surged 1.6% in early trading to 26,865.19, while Germany's DAX jumped 1.2% to 15,294.66. Britain's FTSE 100 gained 0.8% to 7,594.32.

On Wall Street, the future for the Dow Jones Industrial Average rose 0.9% to 34,781.00. The S&P 500 future rose 1.1% to 34,781.00.

In Asia, Japan's benchmark Nikkei 225 shed 0.8% to finish at 26,865.19. Australia's S&P/ASX 200 sank 0.5% to 7,206.90. South Korea's Kospi lost 1.0% to 22,676.54. Hong Kong's Hang Seng declined 0.8% to 24,355.71, while the Shanghai Composite rose 0.5% to 3,446.09.