Sensex rising over 400 points, the broader Nifty regained 12,200. Among the Sensex stocks, HUL was the top gainer, rising over 4 per cent. RIL, Asian Paints, HDFC Bank, HDFC, Nestle India Tata Steel, SBI, and ICICI Bank among the other top gainers. Moreover, shares of IRCTC reversed early losses and were up 1 per cent today. The company reports its Q3 earnings later today.
Siddhartha Khemka, head of retail research at Motilal Oswal Financial Services Private, said ‘Global sentiment turned positive as a slowdown in the rate of new infections in the coronavirus outbreak provided some relief. Further Chinese workers and factories slowly returned to business following a Lunar New Year holiday that was extended due to the deadly coronavirus outbreak. Even oil prices rose after weeks of decline as China resumed business; however, the market would assess the demand situation in China over the next few sessions.’
Read EquityPandit’s Nifty Outlook for the Week