INSUBCONTINENT EXCLUSIVE:
will announce measures to restart the engines of economic growth.
A sharp decline in crude oil prices for the last six days also helped the
sentiments on the D-Street
Brent Crude futures have skid 9 per cent from January 20 level.
BSE benchmark Sensex gained 256 points to 41,223, while its NSE counterpart
Nifty jumped 84 points to 12,140
Broader market indices were in line with their headline peers
Nifty Smallcap advanced 0.64 per cent to 6,378 while Nifty Midcap rallied 0.95 per cent to 18,406
Nifty 500 added 0.67 per cent to 10,023.
India VIX, barometer of volatility, skid 3.12 per cent to 16.75 in the opening trade.
Among
sectoral indices on NSE, barring Nifty Pharma, all indices were in the green
Nifty Metal was the biggest gainer, up 1.55 per cent at 2,683
Nifty Auto and Nifty Realty also added over 1 per cent each.
In the 30-share pack Sensex, except HDFC and TCS, all stocks were in the green
Tata Steel was the biggest gainer, up 2.36 per cent to Rs 456.80
Bharti Airtel and Reliance Industries were other major gainers on the index.
Asian shares erased earlier gains swinging into negative
territory as a spike in new Chinese virus cases sent Hong Kong stocks tumbling and fuelled fears about the economic impact of the
outbreak.
MSCI's broadest index of Asia-Pacific shares outside Japan skid 0.52 per cent
Hong Kong shares fell 2.8 per cent on their first session after a two-and-a-half trading day break for Lunar New Year, led by declines in
financial services, real estate, and consumer goods companies.
However, Australian shares rose 0.57 per cent, while Japan's Nikkei stock
index advanced 0.4 per cent, partly because investors in these markets have already had a chance to react to the virus outbreak, which has
claimed more than 100 lives.