Axis Bank was the first winner of the Sensex pack, with an increase of around 2%.

The benchmark Sensex equity index jumped more than 200 points in the opening session on February 24, following the gains of index majors Reliance Industries, HDFC Bank and Axis Bank, despite the weak trend in global markets .

The 30-stock BSE index traded 207 points or 0.42% higher at 49,958.41.

Likewise, the larger NSE Nifty cited 69.35 points or 0.47% up to 14,777.15.

Axis Bank was the first winner of the Sensex pack, up around 2%, followed by Bajaj Finance, SBI, Reliance Industries, ONGC and UltraTech Cement.

In contrast, TCS, PowerGrid, Infosys, HUL and Tech Mahindra were among the laggards.

In the previous session, Sensex finished 7.09 points or 0.01% higher at 49,751.41, and Nifty set 32.10 points or 0.22% up to 14,707.80.

Foreign Institutional Investors (FIIs) were net sellers in the capital market as they unloaded shares worth ₹ 1,569.04 crore on February 23, according to exchange data.

Domestic stocks look good for now despite mixed signals from Asian markets, said Binod Modi, head of strategy at Reliance Securities.

“FIIs that become net sellers in the last couple of days can be a cause for concern in the short term. However, we continue to believe that the flow of FIIs should be favorable in the medium to long term, as the underlying strength of Indian equities remains intact, ”he added.

US stocks rallied sharply from initial losses and ended largely higher as Fed Chairman Jerome Powell continued to appear conciliatory in his testimony.

Mr Powell has pledged to keep monetary policy accommodative and has given no indication that rising bond yields or the possibility of higher inflation would cause the Federal Reserve to begin to dampen efforts to support the economy, he said. noted M. Modi.

Elsewhere in Asia, the Shanghai, Hong Kong, Seoul and Tokyo stock exchanges were trading on a negative note in mid-session trades.

Meanwhile, global benchmark Brent crude was trading 0.56% lower at $ 64.12 a barrel.

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