Mumbai, July 28 (IANS) The Indian equity markets on Thursday provisionally closed at new highs in almost a year, riding on short covering and expectations of a major economic legislation getting parliament’s approval.
On a closing basis, the wider 51-scrip Nifty of the National Stock Exchange (NSE) touched a new 52-week high. The barometer 30-scrip sensitive index (Sensex) of the BSE also reached its highest closing levels in 11 months.
Healthy buying was witnessed in consumer durables, automobiles and FMCG (fast moving consumer goods) stocks.
The NSE Nifty edged up 50.50 points or 0.59 per cent to 8,666.30 points.
The BSE Sensex, which opened at 28,108.78 points, provisionally closed at 28,119.44 points (at 3.30 p.m.) — up 184.29 points or 0.66 per cent from the previous close at 28,024.33 points.
The Sensex touched a high of 28,240.20 points and a low of 28,064.90 points during the intra-day trade.
The BSE market breadth was slightly tilted in favour of the bulls — with 1,487 advances and 1,162 declines.
On Wednesday, the benchmark indices ended on a flat-to-positive note due to speculative buying. The barometer index had gained 47.81 points or 0.17 per cent, while the NSE Nifty edged up 25.15 points or 0.29 per cent.