Sensex Jumps Over 350 Points, Nifty Crosses 12,200 Amid Gains Across Sectors: 10 Things To Know

Business


HDFC, Reliance Industries, HUL and ICICI Bank were the top contributors to the gain in Sensex


Domestic stock markets started Wednesday’s session on a positive note, tracking gains in Asian peers amid hopes the worst of the coronavirus outbreak in China may have passed. The S&P BSE Sensex index rose as much as 371.42 points to touch 41,587.56 in the first few minutes of trade, and the broader NSE Nifty index climbed to as high as 12,211.80, up 103.9 points from the previous close. Gains across sectors – led by banking, auto, metal and consumer goods stocks – supported the markets.

Here are 10 things to know about the stock markets (Sensex and Nifty LIVE updates) today:

  1. At 9:39 am, the Sensex traded 353.51 points – or 0.86 per cent – higher at 41,569.65 , while the Nifty was up 99.75 points – or 0.82 per cent – at 12,207.65. 

  2. Top percentage gainers on the 50-scrip benchmark index at the time were HUL, Vedanta, Tata Steel, Grasim, JSW Steel and HDFC, up between 1.35 per cent and 3.17 per cent. On the other hand, Yes Bank, IndusInd Bank, Bharti Infratel and GAIL, trading between 0.46 per cent and 2.58 per cent lower, were among the six laggards on the Nifty.

  3. HDFC, Reliance Industries, HUL and ICICI Bank were the top contributors to the gain in Sensex, together pushing the index higher by more than 150 points.

  4. Analysts awaited the release of official data on consumer inflation and industrial production later in the day for more clarity on the state of the economy.

  5. The government will at 5:30 pm release consumer inflation data for the month of January and factory activity data for the previous month. 

  6. More than 40 economists expect retail inflation – or the rate of increase in consumer prices – to worsen to 7.40 per cent in January, a touch above December’s 7.35 per cent and the highest since May 2014, according to a poll conducted by news agency Reuters from February 5 to February 7.

  7. Equities in other Asian markets as well as US futures rose, although prevailing uncertainty about the coronavirus outbreak kept investors wary.

  8. MSCI’s broadest index of Asia-Pacific shares outside Japan was last seen up 0.31 per cent. Chinese shares were down 0.12 per cent and Hong Kong rose 0.57 per cent to a three-week high. Japan’s Nikkei 225 benchmark index rose 0.6 per cent.

  9. The global mood brightened after China’s senior medical adviser said on Tuesday the number of new coronavirus cases was falling in some provinces and forecast the epidemic would peak this month.

  10. Domestic stock markets had snapped a two-day losing streak on Tuesday, with benchmark indices S&P BSE Sensex and NSE Nifty ending 236.52 points (0.58 per cent) higher at 41,216.14 and 76.40 points (0.63 per cent) higher at 12,107.90 respectively.



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