Indian shares rise after five-day loss streak
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Indian shares rise after five-day loss streak

By Reuters

  • 23 Feb 2022
Indian shares rise after five-day loss streak
Credit: Reuters

Indian shares rose on Wednesday after a five-day run of losses, with investors closely watching developments on the Russia-Ukraine crisis.

The blue-chip NSE Nifty 50 index rose 0.46% to 17,170.40 by 0350 GMT, while the S&P BSE Sensex was up 0.44% at 57,551.03, with most major Nifty subindexes gaining.

In Mumbai, the Nifty Realty index and Nifty public sector bank index were the top gainers, climbing more than 1% each.

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In the broader Asian market, stocks steadied and demand for safe-havens waned a little, as investors weighed Russian troop movements near Ukraine and initial Western sanctions.

Oil prices also took a breather after surging to seven-year highs, as it became clear the first wave of U.S. and European sanctions on Russia would not disrupt oil supply.

Western nations on Tuesday punished Russia with new sanctions for ordering troops into two separatist regions of eastern Ukraine, and threatened to go further if Moscow launched an all-out invasion of its neighbour.

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