Equity markets extend gains, Nifty trades above 10k

Mumbai, July 26 (IANS) Indian equity markets traded at a fresh high during the mid-afternoon session on Wednesday on expectations of healthy quarterly results, coupled with broadly positive cues and intense buying activity witnessed in metal, automobile and capital goods stocks.

However, some gains were capped as investors continued to book profits. Caution also prevailed in the global markets ahead of the outcome of the two-day US Federal Open Market Committee meet later in the evening.

The wider Nifty of the National Stock Exchange (NSE) traded above the 10,000-level and scaled an intra-day high of 10,010.80 points.

At 12.40 p.m., the Nifty rose by 43.45 points or 0.44 per cent to trade at 10,008 points.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 32,255.99 points, traded at 32,348.93 points — up 120.66 points or 0.37 per cent — from its previous close at 32,228.27 points.

The Sensex has so far touched a high of 32,361.61 points and a low of 32,226.08 points during the intra-day trade.

The BSE market breadth was bullish with 1,466 advances and 1,004 declines.

“India’s NSE Nifty index hit the 10,000-mark for the first time on Tuesday, further cementing its position as one of Asia’s best performing stock market gauges. India’s GDP growth to stay ahead of China, IMF retains forecast,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

“The advance-decline ratio on the NSE stood at 19 advances, 31 declines and 1 unchanged. Top gainers on NSE were Infratel, Indbulhsgfin and Vedanta, while top losers were Zeel, EicherMotors and Tata motors.”

On Tuesday, the benchmark indices closed on a flat note with marginal losses as investors booked profits. However, both the NSE Nifty and the BSE Sensex scaled fresh highs during intra-day trade.

The Nifty fell by 1.85 points or 0.02 per cent to close at 9,964.55 points, after touching a fresh high of 10,011.30 points during intra-day trade.

The Sensex, too, touched a record high of 32,374.30 points during the intra-day trade, and closed at 32,228.27 points.

–IANS

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