Markets rally 1.2% as hopes rose for a negotiated finish to the Russia-Ukraine battle

Domestic inventory markets on Wednesday rose by 1.2 per cent as hopes rose for a negotiated finish to the Russia-Ukraine battle. The Sensex gained 740 factors to 58,683.99 and the Nifty50 shot up 173 factors to 17,498.25.

However, the rupee declined 21 paise to 75.94 in opposition to the US greenback as surging crude oil costs and gasoline charge hikes by oil advertising and marketing corporations fanned fears of inflation and charge hikes. However, a robust rally within the fairness market lower the losses. While Asian markets gained, European shares fell as bond markets advised ache forward for the US financial system.