Positive Asian cues lift equity markets

Mumbai, July 12 (IANS) Positive Asian markets, combined with short covering and healthy monsoon rains buoyed the Indian equity markets on Tuesday.

Consequently, the key indices of the Indian equity markets traded in the positive territory, during the morning session.

Healthy buying was witnessed in banking, automobile and consumer durables stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) gained by 24.85 points or 0.29 per cent to 8,492.75 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 27,667.81 points, traded at 27,715.08 points (at 9.30 a.m.) — up 88.39 points or 0.32 per cent from the previous close at 27,626.69 points.

The Sensex has so far touched a high of 27,760.81 points and a low of 27,667.81 points during the intra-day trade.

The BSE market breadth was skewed in favour of the bulls — with 994 advances and 483 declines.

Both the key Indian indices had ended on a higher note during the previous trade session on Monday to reach their new closing highs for the last 11 months.

The barometer index had edged up by 499.79 points or 1.84 per cent to 27,626.69 points, while the NSE Nifty gained by 144.70 points or 1.74 per cent to 8,467.90 points.

–IANS

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