Sensex climbs over 1,000 points, Nifty is approaching the 17,000 mark

Ultratech Cement was the top performer in the Sensex package, up almost 5%, followed by Axis Bank, IndusInd Bank, HDFC, Bajaj Finserv, Infosys and Bajaj Finance.

Ultratech Cement was the top performer in the Sensex package, up almost 5%, followed by Axis Bank, IndusInd Bank, HDFC, Bajaj Finserv, Infosys and Bajaj Finance.

Stocks benchmark Sensex rose over 1,000 points on Wednesday, back to the 56,000 mark, boosted by intense buying in IT, banking and financial stocks amid mounting hopes for a breakthrough in Russia-Ukraine negotiations.

Strong global cues also supported domestic indices, traders said.

The 30-stock BSE Index closed 1,039.80 points, or 1.86% higher, at 56,816.65. Likewise, the NSE Nifty rose 312.35 points, or 1.87%, to end at 16,975.35.

Ultratech Cement was the top performer in the Sensex package, up almost 5%, followed by Axis Bank, IndusInd Bank, HDFC, Bajaj Finserv, Infosys and Bajaj Finance.

On the other hand, Sun Pharma and PowerGrid were laggards.

Elsewhere in Asia, stock exchanges in Tokyo, Seoul, Hong Kong and Shanghai ended with healthy gains.

Stock exchanges in Europe also traded significantly higher on mid-session deals.

Meanwhile, Ukraine has said there may be room for compromise in talks with Russia, even as Russian forces intensify their bombardment of Kyiv.

Ukrainian President Volodymyr Zelenskyy said on Wednesday that Russia’s demands were becoming more realistic. Both countries are expected to hold talks again on Wednesday.

Meanwhile, international oil benchmark Brent rose 2.94% to $102.85 a barrel.

Foreign institutional investors (FIIs) remained net sellers in capital markets, withdrawing £1,249.74 billion on Tuesday, according to preliminary data.

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