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Sensex rises over 400 points, RIL, HDFC lead gains

Livemint logo Livemint 04-02-2020

Indian markets moved higher in early trade today, tracking global gains and the recent slide in global crude prices. The Sensex was up over 400 points while Nifty regained 11,800.

Bombay Stock Exchange (BSE) building in Mumbai © AP Photo/Rafiq Maqbool Bombay Stock Exchange (BSE) building in Mumbai

Among the Sensex stocks, HDFC rose nearly 3% while RIL gained 1.5%. Among other gainers, TCS and Infosys rose over 1%. TCS on Monday informed the stock exchanges that it has bagged a $1.5 billion contract from a global pharmacy giant over a ten-year period.

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With Budget behind us now, all eyes are now again on the global markets movement and the upcoming RBI monetary policy due on Thursday, say analysts.

The broader markets were also strong today with BSE midcap index rising 0.82% and smallcap 0.96%.

Meanwhile, on a net basis, foreign institutional investors sold equities worth 1,200.27 crore on Monday, while domestic institutional investors purchased shares worth 1,286.63 crore, data available with stock exchanges showed.

Asian markets were mostly higher today, with China's stocks also eking out some gains, as bargain-buyers stepped in after the previous day's rout but trading floors remained anxious as China's deadly virus claimed more lives.

Investors tracked gains in Wall Street and Europe following last week's rout, though focus remains on authorities' efforts to contain an outbreak that has now infected 20,000 and killed more than 400.

The virus has now spread to more than 20 countries and several others have imposed tough travel rules including banning flights to and from China, while the World Health Organization has declared a global health emergency.

(With Agency Inputs)

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