Key Indian equity indices trade higher in afternoon session

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Mumbai, April 21 (IANS) Key Indian benchmark indices were trading higher during afternoon session on Thursday following Asian markets cues.

The sensitive index (Sensex) of the BSE, which opened at 25,979.68 points, was trading at 25,956.07 points (at 1.30 p.m.) — up 111.89 percent or 0.43 percent against the previous close at 25,844.18 points.

It touched a high of 26,080.07 points and low of 25,907.42 points in the day’s trade so far.

At the National Stock Exchange, the Nifty was also trading 21.60 points or 0.27 percent higher at 7,936.35 points.

At the BSE, good buying was observed in banking, finance, and oil and gas sectors, while selling pressure was seen in telecom sector.

The S&P BSE bankex increased by 2.62 percent, finance index inched up by 1.82 percent and oil and gas index went up by 0.94 percent. However, telecom index dropped by 1.15 percent.

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Ahead of the start of trading session in India on Thursday, Asian markets moved up higher on account of a surge in global crude oil prices.

Most benchmark indices in the Asia-Pacific region were ruling higher, even though the Shanghai Composite and Shenzhen Composite were shaky.

“US markets closed higher on Wednesday but off from day’s high as oil futures and upbeat housing data acted as a support,” said Angel Broking in an analysis ahead of the opening bell in India. US data said weekly domestic oil output fell for a six straight week, hardening the prices.

“European indexes had also closed higher, with Germany’s DAX closing up 70 points and the French CAC ending 25 points up. Speculation over further easing of monetary policy by the European Central Bank also lifted the indices,” the brokerage said.

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