Positive global cues buoy equity markets

Mumbai, June 23 (IANS) Positive global indices, coupled with a stable rupee and recent economic decisions of the government, buoyed the Indian equity markets on Thursday.

Consequently, the key indices provisionally closed the day’s trade with appreciable gains, as healthy buying was witnessed in banking, automobile and healthcare stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged up by 66.75 points or 0.88 per cent, at 8,270.45 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 26,753.20 points, provisionally closed at 27,002.22 points (at 3.30 p.m.)– up 236.57 points or 0.88 per cent from the previous close at 26,765.65 points.

The Sensex touched a high of 27,060 points and a low of 26,736.52 points during the intra-day trade.

In contrast, the BSE market breadth was tilted in favour of the bears — with 1,495 declines and 1,095 advances.

On Wednesday, the key indices closed flat after a volatile trade session, as uncertain global cues, profit booking and a weak rupee depressed investors.

The barometer index fell by 47.13 points or 0.18 per cent, while the NSE Nifty edged down by 16.20 points or 0.20 per cent.

Dhruv Desai, Director and Chief Operating Officer of Tradebulls, pointed out that though Nifty opened flat, it got a boost from a firm start of the European market.

“Correction was witnessed in USD/INR futures prices which supported the upside sentiments in Nifty,” Desai said.

“Banking sector stocks gained on buying support, while IT and pharma sector stocks traded with mix sentiments on profit booking,” he added.



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