Sensex Rises Over 200 Points, Nifty Crosses 12,200; Axis Bank Earnings In Focus

Edited by Sandeep Singh (with inputs from Reuters)

22 Jan 2020, 09:51 AM IST

Infosys, HDFC Bank and Reliance Industries were the biggest contributors to the gain in Sensex

Domestic stock markets started Wednesday's session on a positive note amid gains in Asian peers. The S&P BSE Sensex index rose as much as 208.48 points to touch 41,532.29 in early trade and the broader NSE Nifty benchmark climbed to as high as 12,225.05, up 55.2 points from its previous close, as the markets moved up after declining for two straight sessions. Analysts awaited financial results by large cap companies for cues in the near term.

At 9:25 am, the Sensex traded 151.71 points - or 0.37 per cent - higher at 41,475.52, while the Nifty was up 41.55 points - or 0.34 per cent - at 12,211.40.

Thirty six stocks on the 50-scrip Nifty benchmark index moved higher at the time. Top gainers in percentage terms were Vedanta, Infosys, Wipro, TCS and Yes Bank, up between 0.91 per cent and 2.11 per cent.

On the other hand, Coal India, ONGC, NTPC, Power Grid and Zee Entertainment, down between 1.20 per cent and 3.49 per cent - were the top Nifty laggards.

Infosys, HDFC Bank and Reliance Industries were the biggest contributors to the gain in Sensex.

Asian Paints, Axis Bank and Larsen & Toubro will report their earnings for the quarter ended December 31 later in the day.

Equities in other Asian markets steadied on Wednesday as investors took stock of the spread of a new strain of coronavirus from China and weighed the possible consequences of a global pandemic.

Fears of contagion, particularly as millions travel for Lunar New Year festivities, knocked stocks from record levels seen on the previous day as investors swapped them for safer assets.

MSCI's broadest index of Asia-Pacific shares outside Japan was last seen trading 0.52 per cent higher after a flat start. Japan's benchmark Nikkei 225 index was up 0.61 per cent at the time after opening 0.1 per cent down.

On Tuesday, the S&P BSE Sensex index had ended 205.10 points - or 0.49 per cent - lower at 41,323.81 and the broader NSE Nifty benchmark settled at 12,169.85, down 54.70 points - or 0.45 per cent - from the previous close.