Sensex, Nifty rally as crude oil eases 27% from highs; US Fed in focus

According to Ravi Singh, Vice President and Head of Research, Share India, the hopes for further Russia Ukraine talks has calmed down the panic selling in the broader indices for a while.

Equity markets followed in their global peers’ footsteps on Wednesday and sharply recouped previous session's losses as global investors pinned hopes on Russia-Ukraine talks for de-escalation of the war amid easing of crude prices. The BSE Sensex is up around 900 points at 55,600 levels, while the Nifty50 is comfortably firm above 16,900-mark. 

The domestic markets had logged strong gains for five consecutive sessions until Tuesday, on state election results’ euphoria and Ukraine’s disinterest in becoming a NATO member, which had raised expectations of a truce between the two countries.

Although, since no breakthrough headway came after Tuesday’s talks, investors turned cautious