Indian equity benchmark indices opened on a positive note on Wednesday ending the losing streak of five previous sessions amid the rising geopolitical tensions on the back of the Russia-Ukraine crisis and oil prices.

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The BSE Sensex rose 325 points at 57,626 while the NSE Nifty50 gained 86 points at 17,178 levels.

Kotak Bank, Maruti, M&M, Titan, SBI, Bajaj Finance, IndusInd Bank, Asian Paints and Tata Steel were the top gainers in the Sensex-30 pack.

Tata Motors, Tata Consumer, Coal India and Adani Ports were the gainers on Nifty.

ONGC, Divis Labs, Eicher Motors and L&T were the only losers on the bourses, down up to 0.4 percent.

BSE MidCap and SmallCap indices were trading in the positive territory in line with the headline indices, up 0.9 and 1.4 percent, respectively.

Among the sectoral indices, Nifty Realty traded up 2 percent, followed by PSBs, up 1.6 percent. Nifty Auto, Financials, Consumer Durables and Metals, all traded 0.6-1 percent higher.

Oil edged close to $100 a barrel on Tuesday after Moscow ordered troops into two breakaway regions in eastern Ukraine, but pared gains to end near 2014 highs following Western efforts to stop what they fear is the beginning of a full-scale Russian invasion.

Russian President Vladimir Putin has raised the stakes in the Ukraine standoff by recognising the independence of rebel regions in the country's east, while the US, along with 27 EU countries unanimously agreed on an initial set of sanctions targeting Russian officials over their actions in Ukraine, French Foreign Minister Jean-Yves Le Drianance's said.

"We don't see too much of a disruption in the Indian market as far as consumption related theme continues and I guess that is one area where we are likely to see improvement even in the current quarter, though there may be some pressure on margin due to commodity prices, particularly in auto and auto ancillary stocks," said market expert Deven Choksey.

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(Edited by : Akanksha Upadhyay)

First Published:Feb 23, 2022 9:58 AM IST