Global cues lift equity indices to new highs

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Mumbai, July 11 (IANS) Positive global cues and healthy buying in automobile, capital goods and IT stocks pushed the Indian equity markets to fresh highs during the mid-afternoon trade session on Tuesday.

Around 1.10 p.m., the wider Nifty of the National Stock Exchange (NSE) traded at 9,825.35 points — higher by 54.30 points, or 0.56 per cent.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,789.50 points, traded at 31,866.38 points — up 150.74 points, or 0.48 per cent, from Monday’s close at 31,715.64 points.

The Sensex has so far touched a high of 31,885.11 points, a new record and a low of 31,744.27 points during the intra-day trade.

The BSE market breadth was bullish — with 1,407 advances and 1,160 declines.

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“Equity benchmarks extended yesterday’s gain and is trading positive due to global market. Sugar stocks made gains on the back of government’s decision to increase import duty in sugar,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

“State Bank of India shares gained more than one per cent intraday after the central board of directors approved dilution of bank’s stake in its life insurance subsidiary.”

On Monday, global cues along with short covering and expectations of healthy quarterly numbers aided the NSE Nifty to gain 105.25 points, or 1.09 per cent to 9,771.05 points.

Similarly, the Sensex made healthy gains of 355.01 points, or 1.13 per cent.



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