Sensex, Nifty end higher as coronavirus fears abate
Sensex, Nifty
Shares ended higher on Wednesday, as a slowdown in the number of coronavirus cases and the USFederal 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 0.85per centhigher at 41,565.90.
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 5per centto 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 4.5per centlower.