Sensex trades higher, Nifty maintains 12,200 mar during intraday trade

Market benchmark Sensex advanced over 350 points during the intraday trade on Wednesday, tracking gains in Asian peers amid reports of Chinese workers returning to factories and a drop in new coronavirus cases. The broader Nifty regained its 12,200 mark.

At 1.01 pm the S&P BSE Sensex index rose 342.45 points at 41,559.12 and the NSE Nifty index was trading at 12,198.90. However, Nifty at 1.11 pm regained its 12,201.80 mark.

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Among the Sensex stocks, HUL was the top gainer followed by Nestle, Kotak Mahindra, Asian Paints and M&M.

On the other hand, laggards were led by IndusInd Bank, Sun Pharma, Ultra Tech Cement, SBI and Titan Company.

Market experts believe that a drop in fresh cases of coronavirus came as a breather for markets, but the extended shutdown in China is expected to dent economic growth this quarter.

Keeping a similar view, market is expected to remain volatile as it would closely watch the developments over coronavirus and its economic impact.

(With input from agencies)