New Delhi: The Nifty 50 and Sensex staged a recovery on Tuesday after days of losses but ended well off their intraday highs due to concerns over possible strikes in Ukraine. This came after media reports mentioned that Ukraine might strike Russian targets following the United States lifting a ban on Ukraine’s use of US missiles.
The Nifty 50 rose by 65 points to close at 23,519, but lost nearly 900 points from its day’s highest level. The Sensex gained 239 points to finish at 77,578, showing a positive trend but also retreating from its peak during the day.
Insurance stocks witnessed a decline on Tuesday following remarks by Finance Minister Nirmala Sitharaman. She advised banks to focus more on core banking activities and refrain from aggressively selling insurance products, which led to a dip in the stock prices of insurance companies.