Equities snap 6-day losing streak, banking stocks gain

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Mumbai, March 8 (IANS) Riding on positive global cues and healthy buying in banking, auto and capital goods stocks, the key Indian equity indices on Thursday recovered from a six-day losing streak to provisionally close with substantial gains.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE provisionally closed (at 3.30 p.m.) 305.69 points or 0.93 per cent higher at 33,338.78 points, after touching a high of 33,439.97 points and a low of 33,037.48 during the intra-day trade.

However, the BSE market breadth was bearish with 1,507 declines and 1,203 advances.

On the National Stock Exchange (NSE), the wider Nifty50 closed at 10,242.65 points — up 88.45 points, or 0.87 per cent, from the previous session’s close.

On Wednesday, heavy selling pressure in banking, capital goods and healthcare stocks as also negative cues from Asian and European markets dragged the benchmark indices lower.

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The Nifty50 receded by 95.05 points, or 0.93 per cent, to close at 10,154.20 points, while the Sensex closed at 33,033.09 points — down 284.11 points, or 0.85 per cent.

–IANS

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