DSIJ Mindshare

After witnessing one of the worst falls in 10 months, Sensex closed with a huge profit of 1,736 points, or up 3.08 per cent, and closed of 58,142.05 today. The Sensex MidCap index gained by 626 points and ended the day at 24,025.39 levels. Similarly, the BSE SmallCap also jumped by 542 points and stood at 28,043.69 at day end. The Nifty 50 index also soared by 509 points and closed at 17,352 levels. The Bank Nifty shot up by 1264 points and ended at 38,173.25. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped by 10.27 per cent i.e. by 2.36 points to 20.62 levels. 

The benchmark indices after a good start increased gains in morning trade. IT, FMCG and auto stocks are the one’s trading strong. The Russia-Ukraine tension has affected the crude oil prices to go up more, while the uncertainties have taken over US Fed's rate hike which is expected to hamper the economic growth. China's monetary authority has pushed 100 billion yuan (US$ 15.7 billion) into the banking system with its medium-term lending facility. A huge sell-off was seen by the FII yesterday of Rs 4,253.70 crore, and the DII of buying was seen of Rs 2,170.29 crore was recorded.

All the sectoral indices ended in the red with auto, bank, oil & gas, PSU Bank, pharma, FMCG, metal, realty, and capital goods indices. 

The Indian markets witnessed carnage in Monday's early trade due to weakening in global markets as concerns over the Russian invasion of Ukraine. Also, the crude oil hits USD 96 per barrel reaching a multi-year high. The broad-based indices also saw sell-off on exchanges BSE and NSE with Sensex diving to near 56,600-level and Nifty 50 even reaching near 16,900-level. Buying was seen by FII of Rs 108.53 crore and the DII selling of Rs 696.90 crore was recorded.  

The key Indian indices discontinued the three-day winning streak to trade with steep losses and closed in red territory. The weak global cues soured investor sentiment as the higher than expected US inflation data increased fears of aggressive and early rate hikes by the US Federal Reserve. IT, PSU banks, and consumer durables stocks were under pressure.