Sensex ends 236 points higher, Nifty closes over 12,100; GAIL, JSW steel gloss

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Mumbai: Stock indexes recovered on Tuesday (February 11th) and closed in the green. The Sensex rose 236.52 points to 41,216.14, while the Nifty rose 78.90 points to 12,110.40. The main winners of the Nifty were GAIL, JSW Steel, Bharti Infratel, NTPC and Maruti Suzuki, while Yes Bank, Britannia, BPCL and Bharti Airtel were the leaders. With the exception of FMCG, all other industry indices ended higher.

At 11:19 p.m., the Sensex rose 353 points to 41,333.43, while the Nifty rose 112 points and traded at 12,143.80. Purchasing was observed across all sectors, led by metal and auto stocks, each up over 1 percent. GAIL, JSW Steel and Hindalco were the top winners of the NSE.

Investors would also be wary of the macro data released during the week, including CPI / WPI inflation and IIP data.

In the early morning hours of Tuesday, equity benchmark indices rallied amid global signals as investors continued to weigh the economic impact of the ongoing corona virus outbreak. At 10:15 a.m., the BSE S & P Sensex rose 410 points to 41,390, while the Nifty 50 rose 125 points to 12,157 points.

All industry indices on the National Stock Exchange were positive, with Nifty Metal up 2 percent, Auto up 1.2 percent and Financial Services up 1 percent. Among the stocks, JSW Steel rose 2.8 percent to 285.75 rupees per share, while Tata Steel rose 2.5 percent to 455 rupees per share.

Hindalco and Vedanta each grew by 1.9 percent. Tata Motors accelerated 3.4 percent, while Axis Bank and IndusInd Bank grew 1.8 percent and 1.7 percent, respectively. The other major winners were Reliance Industries, GAIL, ITC and UltraTech Cement. However, Tata Consultancy Services and Grasim acted with a negative trend.

Meanwhile, Asian stock markets were trading higher, although doubts grew as to how quickly China's factories can get back to work as the corona virus continues to spread and deaths increase.

MSCI's broadest Asia Pacific non-Japan equity index rose 0.9 percent, while the Shanghai Composite rose 0.63 percent. Hong Kong's Hang Seng index rose 1.27 percent, South Korea's kospi rose 1.19 percent, while Japan's Nikkei was closed for vacation.

The relative outperformance of the US economy holds the dollar well supported, and the euro slips to a 4-month low of $ 1.0910. The pound was last trading at $ 1.2906 after hitting a two-month low of $ 1.2870.

Against a basket of currencies, the dollar was at 98.858, the highest since mid-October, and has been on its sixth upward day in the past seven against the Japanese yen, which benefits from being its own safe haven.

Risk aversion initially helped lift gold to its highest level in a week, but the dollar's strength dropped 0.25% to $ 1,568.61 an ounce.

Oil prices rose after weeks of declines as traders wait to see how demand could develop in China and whether OPEC could agree to a reduction in supply. Brent crude futures rose 64 cents to $ 53.91 a barrel. U.S. crude rose 50 cents to $ 50.07.

(With agency input)