Positive global cues buoy equity markets

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Mumbai, May 17 (IANS) Positive global indices, along with higher crude oil prices and expectations of better quarterly results, buoyed the Indian equity markets on Tuesday.

Consequently, key indices made gains during the mid-afternoon trade session, as healthy buying was witnessed in automobile, capital goods, banks and oil and gas stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged higher by 68.40 points or 0.87 percent, at 7,929.15 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 25,756.14 points, traded at 25,894.35 points (at 2.10 p.m.) — up 241.12 points or 0.94 percent from the previous close at 25,653.23 points.

The Sensex has so far touched a high of 25,900.18 points and a low of 25,741.19 points during the intra-day trade.

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The BSE market breadth favoured the bulls with 1,368 advances and 1,103 declines.

Both the key Indian indices had ended on a higher note during the previous trade session on Monday, as value buying and expectations of further economic reforms lifted prices.

The barometer index had gained 163.66 points or 0.64 percent, while the NSE Nifty had risen by 45.89 points or 0.59 percent.

Initially, the key indices opened on a positive note on Tuesday, in sync with their Asian peers and a positive close to the US exchanges on Monday.



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