Sensex climbs over 350 points, Nifty at 16,716 — IndusInd Bank, PowerGrid, NTPC, Wipro, Tata Steel and Tech Mahindra top gainers

Equity benchmark Sensex jumped over 350 points in opening trade on Thursday, tracking positive trends in Asian markets despite intensifying conflict between Russia and Ukraine.

The 30-share Sensex was trading 353.52 points or 0.64 per cent higher at 55,822.42 and the broader Nifty advanced 110.45 points or 0.67 per cent to 16,716.40.

IndusInd Bank was the top gainer in the Sensex pack, climbing nearly 2 per cent, followed by PowerGrid, NTPC, Wipro, Tata Steel and Tech Mahindra.

On the other hand, Asian Paints, Maruti, Ultratech Cement, Nestle India and TCS were the losers, shedding up to 1.09 per cent.

In the previous session, the index tanked 778.38 points or 1.38 per cent to finish at 55,468.90. Similarly, the NSE Nifty fell 187.95 points or 1.12 per cent to 16,605.95.

Bourses in Hong Kong, Shanghai, Seoul and Tokyo were trading with significant gains in mid-session deals.

Stock exchanges in the US closed in the positive territory in the overnight session.

International oil benchmark Brent crude surged 2.83 per cent to USD 116.13 per barrel.

On Wednesday, Russia and Ukraine said they were prepared to hold talks for the second round since the Russian invasion began last week.

Foreign institutional investors continued their selling spree in Indian markets as they offloaded shares worth Rs 4,338.94 crore on a net basis on Wednesday, as per exchange data.

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