Markets close higher on positive global cues; Sensex jumps over 1,300 pts; Nifty settles above 16,650

25 Feb 2022 , 03:46 PM

Domestic benchmark indices snapped seven days’ losing streak to close higher on Friday. The stock market closed higher amid positive global cues as U.S President Joe Biden announced stringent sanctions against Russia.

The Nifty and the Sensex settled at 16,658.40 and 55,858.52, respectively. 

Nifty increased by 2.5% with the broader markets outperforming the main indices with Nifty Midcap and Nifty Smallcap increasing by 4.2% and 4.8% respectively.

All sectoral indices ended in green with Nifty Metal increased the most by 5.7% followed by Nifty Realty (+5.2%) and Nifty Media (+4.8%).

Tata Motors, Tata Steel, Adani Ports, IndusInd Bank, Bajaj Finance, Tech Mahindra, Axis Bank, Kotak Bank and TCS gained the most. Britannia, Nestle India were the only losers on Friday.

Meanwhile, European markets rebounded more than one per cent on Friday, one day after slumping as Russia invaded Ukraine. In initial deals, Frankfurt stocks rallied 1.3 per cent, London gained 1.3 per cent and Paris won 1.1 per cent in value.