Stock benchmark Sensex rose over 800 points at the open for trading on March 16 as hopes of a settlement in talks between Russia and Ukraine boosted market sentiment amid a positive trend in global markets.
The 30-rate Sensex traded 808.69 points, or 1.45%, higher to 56,585.54, and the broader Nifty was up 233.20 points, or 1.4%, to 16,896.20.
HDFC was the top gainer in the Sensex package, up 3.35%, followed by Axis Bank, IndusInd Bank, Bajaj Finserv, HDFC Bank, ICICI Bank and Bajaj Finance.
On the other hand, Sun Pharma was the only loser of the game, losing 0.41%.
In the previous session, the index fell 709.17 points, or 1.26%, to end at 55,776.85. Similarly, the NSE Nifty fell 208.30 points, or 1.23%, to 16,663.
Meanwhile, Ukraine said there was potential room for compromise in talks with Russia. After officials from Ukraine and Russia held a meeting via video conference on March 15, Ukrainian President Volodymyr Zelenskyy said on March 16 that Russia’s demands were becoming more realistic.
Both countries are expected to hold talks again on March 16.
Stock exchanges in Hong Kong, Seoul and Tokyo traded higher, while Shanghai was in the red on mid-session deals.
Stock exchanges in the US closed the overnight session with significant gains.
International oil benchmark Brent rose 1.38% to $101.29 a barrel.
Overseas institutional investors continued their selling spree in Indian markets as they sold ₹1,249.74 crore of shares on a net basis on March 15, according to stock market data.