Indian indices ended higher on Wednesday after a share rally in IT stocks overshadowed weak global investor sentiment stemming from the rapid spread of a new strain of the coronavirus in the UK. Gains in FMCG, pharma and auto sectors also lifted the domestic sentiment.

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The Sensex ended 437 points higher at 46,444 while the Nifty rose 135 point to settle at 13,601. However, the broader market outperformed benchmarks with the midcap and smallcap indices up 2-3 percent each.

Uncertainty around a U.S. stimulus package and fears of the economic impact of the new variant of the coronavirus weighed on global investor mood. Markets witnessed a massive sell-off on Monday as India and other countries suspended travel from Britain on fears around the new virus strain.

On the Nifty50 index, Wipro, Cipla, Tata Steel, Tata Motors, and HUL were the top gainers while Hero Moto, Divi's Labs, Titan, NTPC, and Powergrid led the losses.

All sectors were ended in the green for the day with the Nifty IT and Nifty FMCG indices surged 2 percent. Nifty Metal and Nifty Pharma also added over 1.5 percent each while Nifty Auto was up over 1 percent. Meanwhile, Nifty Bank rose 0.8 percent for the day.

The share price of Wipro gained over 5.5 percent after the company announced a significant strategic digital and IT partnership deal with German wholesaler METRO AG. The estimated deal value for the duration of the first 5 years is approximately $700 million. With the intention to extend up to 4 additional years, it can be a potential spend of up to $1 billion.

(Edited by : Pranati Deva)

First Published:Dec 23, 2020 3:37 PM IST