Sensex rallies 700 pts on ease in oil prices; Nifty tops 11,900

Slide in global crude oil prices and positive global cues aided the benchmark Sensex to gain over 700 points on Tuesday. Brent, the global oil benchmark, on Tuesday fell as much as $53.95 a barrel as traders weigh the impact on global demand from the spread of coronavirus, which has probably cut China's oil consumption by 20 per cent, according to analysts. At 11.19 AM, the benchmark Sensex traded at 40,591.36, higher by 719.05 points or 1.80 per cent. The Nifty gained 222.05 points to trade at 11,929.95.