Sensex ends 61 points higher; SBI spurts on Yes Bank stake buzz
Giving up most early gains, equity benchmark Sensex ended 61.13 points higher on Thursday as domestic investors weighed the impact of rising coronavirus cases in the country. After rallying over 478 points during the day, the 30-share index settled 61.13 points or 0.16 per cent higher at 38,470.61. On similar lines, the broader NSE Nifty advanced 18 points or 0.16 per cent to finish at 11,269.
Top gainers in the Sensex pack included Kotak Bank, HCL Tech, HUL, TCS, Bharti Airtel, Asian Paints, Bajaj Finance and SBI, while Reliance Industries, Tech Mahindra, ICICI Bank and Infosys ended with losses.
SBI jumped 1.05 per cent following reports that the government has given the go-ahead to the lender and other financial institutions to take over capital-starved Yes Bank.
According to analysts, despite trading significantly higher through the day on positive global cues, market failed to hold on to most gains as domestic investors turned increasingly risk averse amid rising cases of coronavirus in the country.
One more case of novel coronavirus was reported in the national capital region on Thursday, taking the total number in the country to 30 so far, including 16 Italian tourists.
Global stocks rallied as investors were hopeful that the collective efforts of global governments and central banks would cushion the economic blowback of the coronavirus epidemic.
The IMF on Wednesday said it will make available about USD 50 billion through its rapid-disbursing emergency financing facilities for low income and emerging market countries that could potentially seek support on account of the coronavirus.
Bourses in China, Shanghai, Seoul and Tokyo ended with firm gains, while those in Europe fell up to 1 per cent in early trade.
Brent crude oil futures inched up 0.04 per cent to USD 51.16 per barrel. On the currency front, the Indian rupee appreciated 15 paise to 73.24 per US dollar (intra-day).