Sensex Ends 453 Points Higher; IT & Healthcare Stocks Rally

Indian share markets staged a strong recovery from intraday low levels in the afternoon session on the back of buying in IT heavyweights like Infosys, Tata Consultancy Services (TCS), HCL Technologies, and Tech Mahindra.

Sentiment got a boost after BioNTech Chief Executive Ugur Sahin said he was confident a Covid-19 vaccine co-developed by his company would be effective against a variant of the coronavirus that has emerged in Britain.

At the closing bell, the BSE Sensex stood higher by 453 points (up 0.99%).

The NSE Nifty closed higher by 138 points (up 1.03%).

HCL Technologies and Tech Mahindra were among the top gainers today.

The BSE Sensex rose over 900 points from the day's lowest level while the Nifty surpassed 13,450 levels.

Note that benchmark indices fell 3% yesterday, snapping six days of gains, as investor sentiment dampened following reports of a new deadly strain of the coronavirus in the UK.

The SGX Nifty was trading at 13,493, up by 164 points, at the time of writing.

The BSE MidCap index ended up by 1.1%, and the BSE SmallCap index ended up by 1%.

All sectoral indices ended in green. Gains were largely seen in the IT sector, healthcare sector and metal sector.

Asian share markets declined today amid jitters over the new coronavirus strain. The Hang Seng ended down by 0.7% and the Shanghai Composite plunged 1.9%. The Nikkei ended down by 1%.

US stock futures are trading mixed following a volatile session that saw the Dow Jones Industrial Average erase a 400-point loss.

Nasdaq Futures are trading up by 42 points (up 0.3%), while Dow Futures are trading down by 54 points (down 0.2%).

European share markets are trading higher, attempting to recover from a brutal sell-off in the previous session.

Official data showed UK GDP grew by a record 16% in the third quarter, but that still didn't make up for an 18.8% decline in the previous quarter when much of the economy was shut down.

The rupee is trading at 73.86 against the US$.

Gold prices are trading down by 0.3% at Rs 50,245 per 10 grams. Domestic gold prices edged lower, mirroring a similar trend in international markets.

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