Share Market LIVE: Sensex jumps over 800 pts, Nifty above 16,500; Bajaj Finserv zooms 4%

Good morning!

On Thursday, the equity benchmark Sensex crashed over 2,700 points to hit an intraday low of 54,383.20 after Russian forces attacked Ukraine. Likewise, Nifty also plunged over 800 points to end at 16,247.95.

What's next? Here's a look at the latest updates of the market today!

9:16 am: Market opening

Equity benchmark Sensex opened over 800 points higher at 55,397.29 and Nifty also jumped over 260 points to 16,515.65 after US and its allies announced harsher sanctions against Russia.
 

9:00 am: Oil prices soar $2 per barrel as markets eye sanctions impact

Oil prices soared nearly $2 per barrel in early trade on Friday as Russia's invasion of Ukraine continued to inflame global supply concerns as markets brace for the impact of trade sanctions on major crude exporter Russia.

Global benchmark Brent crude LCOc1 rose $1.99, or 2%, to $101.07 a barrel around 0155 GMT on Friday. US West Texas Intermediate (WTI) crude CLc1 climbed $1.89, or 2% to $94.70 a barrel.

The attack on Ukraine caused prices to surge to more than $100 a barrel for the first time since 2014 on Thursday, with Brent touching $105, before paring gains by the close of trade.

8:45 am: Global updates

US stocks ended sharply higher on Thursday, led by a 3% gain in the Nasdaq, in a dramatic market reversal as US President Joe Biden unveiled harsh new sanctions against Russia after Moscow began an all-out invasion of Ukraine.

The S&P 500 rose more than 1%, ending a four-day slide amid worries over the escalating crisis. The Dow also ended in positive territory.

The Dow Jones Industrial Average rose 92.07 points, or 0.28%, to 33,223.83, the S&P 500 gained 63.2 points, or 1.50%, to 4,288.7 and the Nasdaq Composite added 436.10 points, or 3.34%, to 13,473.59.

Asian markets were trading in the green on Thursday in line with their US peers after US and its allies announced harsher sanctions against Russia.

Japan's benchmark Nikkei 225 added 386 points to 26,359. Australia's S&P/ASX 200 rose 25 points to 7,016. South Korea's Kospi gained 26 points to 2,675.

Hong Kong's Hang Seng climbed 91 points to 22,992 , while the Shanghai Composite added 47.76 points to 3,477.

8:35 am: FII and DII action

Foreign institutional investors (FIIs) sold shares worth Rs 6,448.24 crore on February 24, and domestic institutional investors (DIIs) bought shares worth Rs 7,667.75 crore, as per provisional data available on NSE.

8:30 am: SGX Nifty

The Indian equity market is likely to open on a positive note as SGX Nifty was up 90 points to 16,510.50.

The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.

8:15 am: Market on Thursday

Sensex ended 2,700 points lower on Thursday after global markets came under huge selling pressure amid Russia's invasion of Ukraine. Sensex ended 2,702 points lower at 54,529 and Nifty slumped 815 points to 16,247.

IndusInd Bank was the top Sensex loser shedding 7.88 per cent, followed by Bajaj Finance, Axis Bank, M&M , Tech Mahindra. All 30 Sensex stocks closed in the red.

BSE mid-cap and small-cap indices lost 1,301 points and 1,555 points, respectively. On the sectoral front, banking, consumer durables, IT and capital goods shares led the losses today.

BSE consumer durables index fell 1514 points to 40,950 and the banking index plunged 2373 points to 40,547. BSE capital goods index lost 1172 points to 26,492 and the BSE  IT index crashed 1551 points to 32,329.