Markets end higher ahead of GDP data; Reliance, ICICI Bank among top contributors

28 Feb 2022 , 04:00 PM

Equity benchmark indices closed higher in a volatile trading session amid strong buying seen in metal stocks. The benchmark BSE Sensex jumped 389 points or 0.70 per cent to close at 56,247; while the broader NSE Nifty moved 136 points or 0.81 per cent higher to settle at 16,794. Both the indexes swung between gains and losses before settling in green for the second straight session.

The BSE Sensex rebounded from day’s low to close in the green as investors turned optimistic amid hopes for Russia-Ukraine negotiations. Ukraine said that negotiations with Moscow would be held at the Belarusian-Ukrainian border.

The midcap and smallcap shares finished on a positive note as Nifty Midcap 100 index surged 0.97 per cent and small-cap shares surged rose per cent.

The overall market breadth stood strong as 2,120 shares advanced while 1,323 declined on the BSE.

Nifty Metal outperformed the index by rising as much as 4.95 per cent in today’s trade.

Tata Steel, PowerGrid, Reliance Industries, Titan, NTPC, L&T, Asian Paints and ICICI Bank were the major gainers on the 30-share BSE index, whereas Dr Reddy’s, Axis Bank, M&M, HDFC twins (HDFC and HDFC Bank) settled in the red.