Sensex jumps 237 points to close at 41,216, Nifty ends above 12,100-mark; NTPC, Maruti Suzuki, SBI among top gainers
Market benchmark Sensex ended 237 points higher on Tuesday, largely in tandem with global equities that advanced despite concerns over the coronavirus outbreak
Led by gains in index heavyweights RIL, ICICI Bank and HDFC, the 30-share BSE Sensex settled 236.52 points, or 0.58 percent, higher at 41,216.14
It hit an intra-day high of 41,444.34
Similarly, the broader NSE Nifty rose 76.40 points, or 0.64 percent, to 12,107.90
Mumbai: Markets snapped their two-session slide to close with smart gains on Tuesday, mirroring optimism in the global markets as investors wagered on limited economic impact of the coronavirus outbreak.
Led by gains in index heavyweights RIL, ICICI Bank and HDFC, the 30-share BSE Sensex settled 236.52 points, or 0.58 percent, higher at 41,216.14.
Similarly, the broader NSE Nifty rose 76.40 points, or 0.64 percent, to 12,107.90.
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NTPC, Maruti Suzuki, SBI, PowerGrid, Bajaj Auto, UltraTech Cement and Axis Bank rose up to 2.95 percent.
On the other hand, Bharti Airtel, Mahindra and Mahindra, Nestle India, TCS and Sun Pharma shed up to 0.75 percent.
Global markets rose as China re-opened for business after a forced extension to the Lunar New Year holiday because of the coronavirus outbreak, which has killed over 1,000 people and disrupted major global supply chains.
Bourses in Shanghai, Hong Kong and Seoul settled with significant gains. Japanese markets remained shut for a holiday.
Stock exchanges in Europe also opened on a positive note.
"Easing concerns over the coronavirus issue after the drop in fresh cases came as a breather for markets. Since the full impact of the virus issue still remains unknown the extended shutdown is expected to dent economic growth this quarter.
"We expect the domestic market to stay focused on the last batch of Q3 numbers and CPI inflation for the month of January. As per the consensus, inflation is expected to remain elevated confirming the recent action by the central bank," said Vinod Nair, Head of Research, Geojit Financial Services.
BSE utilities, power, metal, bankex, energy, healthcare and consumer durables indices rose up to 1.68 percent, while FMCG and telecom closed in the red.
Broader BSE midcap rose 0.35 percent, while smallcap index slipped 0.18 percent.
Meanwhile, Brent crude oil futures rose 1.58 percent to $54.11 per barrel.
On the currency front, the Indian rupee depreciated marginally to 71.30 per US dollar (intra-day).
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Bajaj Finserv was the top gainer in the Sensex pack, rising around 4 percent, followed by Bajaj Finance, Reliance Industries, IndusInd Bank and Axis Bank