Indian Indices Rebound at the Close; Coal India Soars 9%

Indian benchmarks snapped their seven-day losing run on Friday, with buying seen across all the sectors.

Both BSE Sensex and NSE Nifty tracked positive global cues as the US’ sanctions to Russia over its Ukraine invasion did not target the European country’s oil exports. The US also did not block assets of large Russian banks.

At close, the Sensex climbed 1,328.61 points, or 2.4%, to 55,858.52, while the Nifty rose 410.40 points, or 2.5%, to 16,658.40.

Coal India (COALINDIA, BOM:533278) topped Friday’s gainers, with shares soaring 9%, followed by Tata Motors (TATAMOTORS, BOM:500570) and Tata Steel (TATASTEEL, BOM:500470).

Conversely, Britannia Industries (BRITANNIA, BOM:500825), Nestle India (NESTLEIND, BOM:500790) and Hindustan Unilever (HINDUNILVR, BOM:500696) were the top laggards.

In corporate news, Dr. Reddy’s Laboratories (DRREDDY, BOM:500124) went up 2% at the close after announcing its subsidiary Reddy Holding GmbH, has completed the acquisition of German medical cannabis firm Nimbus Health.

Meanwhile, India continued to see a steady drop in the daily COVID-19 cases, with just 13,166 infections reported in the last 24 hours. New deaths were recorded at 302.

source: 16:18Feb 25, 2022MT Newswires


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