Sensex surges over 400 points in opening trade; Nifty above 12,000

NEW DELHI: Equity indices on Wednesday started on a higher note with benchmark BSE sensex rising over 400 points in opening session in line with Asian peers as global investors weigh China's measures to prop up the coronavirus-hit economy.
The 30-share index was trading 408.42 points or 1 per cent higher at 41,302.80. While, the broader NSE Nifty was 122.55 points or 1.02 per cent up at 12,115.05.
NTPC was the major gainer in the sensex pack, rising up to 3.65 per cent, followed by ONGC, Reliance, Power Grid, Nestle India, Axis Bank and Kotak Bank.
Bharti Airtel was the only stock trading in red.
All sub-indices were trading higher on NSE, led by Nifty Pharma, Metal and Realty.
According to the provisional exchange data, FPIs (foreign portfolio investors) remained net sellers in the capital markets as they offloaded equities worth Rs 74 crore on a net basis on Tuesday.
Asian shares were cautiously higher on Wednesday as investors tried to shrug off coronavirus worries despite rise in the number of virus cases.
In the previous session, sensex and Nifty settled with losses for the fourth straight session as the ongoing AGR issue weighed on telecom and financial stocks.
(With PTI inputs)