Sensex, Nifty end higher as coronavirus fears abate

Reuters New Delhi, India Feb 12, 2020, 04.17 PM(IST)

Representative image Photograph:( Reuters )

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The broader Nifty ended up 0.77 per cent at 12,201.20 and the benchmark Sensex ended 0.85 per cent higher at 41,565.90.

Shares ended higher on Wednesday, as a slowdown in the number of coronavirus cases and the US Federal Reserve chairman's optimistic view on the economy whetted investor appetite for riskier assets.

The broader Nifty ended up 0.77 per cent at 12,201.20 and the benchmark Sensex ended 0.85 per cent higher at 41,565.90.

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China reported its lowest number of new coronavirus cases since late January, supporting its senior medical adviser's prediction that the outbreak might be over by April.

Meanwhile, Federal Reserve Chair Jerome Powell on Tuesday said the US economy is in a good place, leading to a rise in bond yields and lifting sentiment globally. 

In the domestic market, consumer goods giant Hindustan Unilever surged over 5 per cent to a record close of 2260.35 rupees and boosted the Nifty FMCG index, up 1.88 per cent.

Financial stocks were also among top contributors to gains for the day, with the Nifty financials index gaining 0.66 per cent.

Meanwhile, Yes Bank was the day's top laggard, ending 4.5 per cent lower.