Activity in the F&O market for the weekly expiry on March 3 shows 17000 to act as support now. 

Domestic benchmark indices broke the seven-day losing streak to close higher on Friday. The stock market ended on the upper amid positive global cues as US President Joe Biden declared severe sanctions against Russia. All the sectoral indices rallied. Realty, metals and PSU banks were in demand. The Nifty 50 and the Sensex settled at 16,658.40 gaining 421 points and 55,858.52, up by 1328 points, respectively. 

After witnessing heaving selling on Thursday, the domestic benchmark indices cheerfully recouped almost half of the previous day's losses on Friday. The important factor which drove the short covering in the domestic and global markets on Friday i.e. February 25 is the relief that the economic sanctions announced by the US and others have so far not included any exile of the Russian economy from the global SWIFT payment system.

The S&P BSE 500 index was up by nearly 3 per cent in today’s trading session. Of all the index constituents, the three stocks mentioned below showed the highest rally.  

The broader market indices were seen outperforming the headline indices with Nifty Midcap 100 and Smallcap 100 jumping 4.28 per cent & 5 per cent, respectively.  

 At 12.30 pm on Friday, the core equity indices i.e., Sensex and Nifty 50 were seen rebounding from yesterday’s levels as the markets react to the responses made by the West and its allies with regards to Russia’s attack on Ukraine. The Sensex was trading at 56,006.46, up by 1476.55 points or 2.71 per cent, while Nifty was at 16,929.98, up by 480.20 points or 2.92  per cent from the last trading session.    

While markets opened much higher, as of 12.30 PM, the BSE Smallcap index was trading up by 3.57 per cent.   

Indian manufacturer and supplier of steel tubes, pipes and allied products, JTL Infra Ltd, has given investors stellar returns of 275.12 per cent over the last year. Since February 25, 2021, the company has increased investor wealth by more than three times. The share price of the company has increased from Rs 58.98 to Rs 221.25 in the last one year. 

Linde India Ltd, which is engaged in the manufacturing of industrial and medical gases, has rallied today by over 5 per cent in the early morning session from its previous close of Rs 2686.00.

After the worst day in nearly two years for the domestic stock market on February 24, benchmark indices managed to recover half of yesterday’s losses in today’s session. The Ukraine invasion actions triggered sharp risk aversion in global equities and led to a surge in global commodity prices, especially crude oil. A huge sell-off was seen by the FII of Rs 6448.24 crore and the even big buying by the DII of Rs 7667.75 crore was recorded.