Global cues push equity indices higher; Nifty regains 11,300-mark

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Mumbai, Aug 3 (IANS) Positive global cues along with healthy quarterly results and value buying pushed the key Indian equity indices — NSE Nifty50 and S&P BSE Sensex — higher during the afternoon trade session on Friday.

According to market observers, broadly positive Asian indices coupled with lower crude oil prices buoyed investors sentiments.

Healthy buying activity was witnessed in banking, metals and auto stocks.

At 12.10 a.m., the wider Nifty50 on the National Stock Exchange traded at 11,325.90 points, higher by 81.20 points or 0.72 per cent from its previous close.

The BSE Sensex, which had opened at 37,327.16 points, traded at 37,439.66 points — higher by 274.50 points or 0.74 per cent — from its previous close of 37,165.16 points.

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It has touched an intra-day high of 37,462.58 points and a low of 37,319.61 so far.

“Both Sensex and Nifty were trading higher after Asian shares gained following the tech-led rally on Wall Street,” said Tradebulls’ Director and Chief Operating Officer, Dhruv Desai.

“Oil prices edged lower, easing on persistent supply concerns as Russia increased production in July and Saudi Arabia cut the price of crude for its Asian customers.”

–IANS

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