Sensex cross 349 points; Hindunilvr, Kotak & Nestle lead the rally

Sensex gained and closed above 200 points for the second consecutive day this week. On Wednesday, Sensex crossed more than 349 points to close at 41,565.90 levels, up by 0.85 per cent. While, Nifty closed at 12,201.20 levels, up by 0.77 per cent.

National Health Commission (NHC) on Wednesday released a report stating that the number of confirmed Coronavirus cases in China reduced on Tuesday, which is the lowest in two weeks. Traders took positive cues from this, which resulted in the overall gain of the global markets hence; Sensex too ended today’s trading session in green, with positive numbers.

Besides, the market participants in India are also optimistic due to Reserve Bank of India (RBI) data on Outward Foreign Direct Investment (OFDI) that showed the investment by Indian firms in foreign countries rose by nearly 40 per cent, YOY in January 2020 to $2.1 billion.  

The top five gainers of S&P BSE Sensex are: Hindustan Unilever-up by 5 per cent, Kotak Bank-up by 2.24 per cent, Nestle India-up by 1.81 per cent, ICICI Bank-up by 1.78 per cent and Reliance-up by 1.43 per cent.

S&P BSE Mid-cap slumped by 0.30 per cent and closed at 15,788.25 levels while, S&P BSE Small-cap also closed in red at 14,731.05 levels, down by 0.13 per cent. Top three losers of S&P BSE Small-cap stocks are: Mangalam Organics-down by 20 per cent, Shemaroo-down by 19.99 per cent and Fermenta Biotech-down by 14.25 per cent.

Meanwhile, the top three sectoral indices are: S&P BSE Fast Moving Consumer Goods-up by 1.90 per cent, while, S&P BSE Bankex and Energy are up by 0.76 per cent each.