NEW DELHI: Equity indices ended higher Tuesday with the benchmark BSE Sensex increasing more than 450 points led by gains in IT and pharmaceutical stocks.
After a very volatile session, the 30-share BSE Index finished 453 points or 0.99 percent higher at 46,007; while the broader NSE Nifty closed 138 points or 1.03 percent higher at 13,466.
The top winners in the sensex package included HCL Tech, Tech Mahindra, Infosys, Power Grid, Sun Pharma and L&T, with their shares rising as much as 5.32%.
While Kotak Bank, HDFC, Bajaj Finance and IndusInd Bank were the main losers, falling as much as 1 percent.
On the NSE platform, the Nifty IT, Pharma and Metal sub-indices gained as much as 3.36%.
“News related to the new coronavirus is being absorbed by the market and that explains the panic, most people seem to be reacting now and we are seeing some pressure after the initial rebound”, Anand James, Chief Market Strategist at Geojit Financial. Services told the Reuters news agency.
“Late entrants are limiting loss or locking in gains on the first bounce, with just two days to pack up all the action, we are seeing volatility,” he added.
Meanwhile, foreign portfolio investors (FPIs) became net sellers in the capital market by selling shares worth Rs 323.55 crore on a net basis on Monday, according to interim data from the exchange.
(With contributions from the agency)
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