Sensex rises 237 pts; Nifty above 12,100

Market benchmark Sensex ended 237 points higher on Tuesday, largely in tandem with global equities that advanced despite concerns over the coronavirus outbreak.

Led by gains in index heavyweights RIL, ICICI Bank and HDFC, the 30-share BSE Sensex settled 236.52 points, or 0.58 per cent, higher at 41,216.14. It hit an intra-day high of 41,444.34. Similarly, the broader NSE Nifty rose 76.40 points, or 0.64 per cent, to 12,107.90.

NTPC, Maruti, SBI, PowerGrid, Bajaj Auto, UltraTech Cement and Axis Bank rose up to 2.95 per cent.

On the other hand, Bharti Airtel, Mahindra and Mahindra, Nestle India, TCS and Sun Pharma fell up to 0.75 per cent.

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Domestic stocks followed global equities, which rallied despite concerns over the coronavirus' impact on the world economy, traders said.

According to analysts, global investors were awaiting cues from China as the world's second-largest economy re-opened for business after a forced extension to the Lunar New Year holiday because of the coronavirus outbreak, which has killed over 1,000 people and disrupted major global supply chains.

Bourses in Shanghai, Hong Kong and Seoul settled with significant gains. Japanese markets remained shut for a holiday. Stock exchanges in Europe also opened on a positive note.

Meanwhile, Brent crude oil futures rose 1.58 per cent to USD 54.11 per barrel. On the currency front, the Indian rupee depreciated marginally to 71.30 per US dollar (intra-day).

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