Sensex rebounds 1165 points from day's low; Tata Steel, Power Grid soar

Mumbai (Maharashtra) [India], February 28 (ANI): Extreme volatility continued in the Indian stock markets on Monday with benchmark Sensex sliding over 1000 points and briefly trading in the positive amid the ongoing Russia-Ukraine conflict.
The 30 stock S&P BSE Sensex opened deep in the red at 55,329.46 points and slumped to a low of 54,833.50 points in the morning trade.
At around noon trade, the investors rushed to bargain buying. The Sensex was trading 59.46 points or 0.11 per cent higher at 55,917.98 points at 12.28 pm, against its previous session's close at 55,858.52 points.
The Sensex rose to a high of 55,998.65 points at around noon, which is 1,165.15 points higher from the day's low of 54,833.50 points touched in the early morning trade.
The broader Nifty 50 of the National Stock Exchange was trading 48.15 points or 0.29 per cent higher at 16,706.55 points against its previous session's close at 16,658.40 points.
The Nifty 50 opened deep in the red at 16,481.60 points and slumped to a low of 16,356.30 points. The Nifty rose to a high of 16,720.95 points in the intra-day trade.
Tata Steel surged 5.48 per cent to Rs 1207.90. The scrip had also surged 6.54 per cent on Friday.
Power Grid Corporation 3.52 per cent higher at Rs 204.25; NTPC 2.07 per cent higher at Rs 133; Tech Mahindra 1.68 per cent higher at Rs 1412.80 and Reliance Industries 1.73 per cent higher at Rs 2323.45 were among the major Sensex gainers.
Dr Reddy's Laboratories slumped 2.53 per cent to Rs 4074.75. Mahindra & Mahindra fell 2.07 per cent to Rs 790.95. HDFC Bank 1.99 per cent down at Rs 1426.65; Axis Bank 1.89 per cent down at Rs 743.80; Nestle India 1.66 per cent down at Rs 17413.25 and Maruti Suzuki 1.25 per cent down at Rs 8250.05 were among the major Sensex losers. (ANI)