Mumbai: Indian equity indices on Thursday ended higher with the Sensex broke the three-day losing streak and closed 271.02 points higher at 41,386.40. The broader Nifty too snapped a losing streak and ended up 73 points at 12,180.40.
Major gainers on the Nifty were Yes Bank, IOC, L&T, GAIL and BPCL, while Zee Entertainment, UPL, Power Grid, Cipla and Tech Mahindra were among top losers. About 1428 shares advanced, 1064 shares declined, while 146 shares remain unchanged.
During early hours today, equity benchmark indices edged higher while investors globally remained anxious about the spread of a new flu-like virus in China. At 10:15 am, the BSE S&P Sensex was up by 187 points to 41,303 while the Nifty 50 ticked up by 58 points at 12,165.
Most sectoral indices at the National Stock Exchange were in the positive terrain with Nifty realty climbing up by 1.3 per cent and PSU bank by 0.8 per cent.
Indian rupee depreciated by 3 paise to 71.22 against the US dollar in early trade on Thursday amid rising demand for the greenback vis-a-vis other currencies overseas, even as crude oil prices eased. However, a positive opening in the domestic equity market supported the rupee and restricted the fall.
Meanwhile, Asian shares fell as investors remained anxious about the spread of a new flu-like virus in China just as millions prepared to travel for the Lunar New Year.
MSCI`s broadest index of Asia Pacific shares outside Japan fell by 0.45 per cent. Blue-chip Chinese shares slumped by 0.91 per cent while Japan`s Nikkei stock index slid by 0.6 per cent.
The Chinese yuan fell toward a two-week low, while safe-havens such as the Japanese yen, gold, and US Treasuries rose before a travel blockade of the Chinese city, Wuhan, at the centre of the outbreak starts later on Thursday.
The S&P 500 eked out a 0.03% gain on Wednesday, but the overall tone on Wall Street was mixed as investors assessed the impact of the virus and braced for the corporate earnings season.
In the onshore market, the yuan edged down 0.1% to 6.9160 per dollar, approaching the lowest since Jan. 10. The yen rose 0.2% to 109.64 versus the dollar, while the Swiss franc traded at 0.9679 against the greenback.
Gold, another asset that is often bought as a safe haven, rose 0.07% to $1,559.17 per ounce. The yield on benchmark 10-year Treasury notes fell slightly to 1.7551% in Asia as some investors sought the safety of government debt.
(With Agency Inputs)
