Positive global cues lift equity markets

Mumbai, July 11 (IANS) Positive global cues and fresh buying support lifted the Indian equity markets on Monday.

The equity markets traded with healthy gains during the mid-afternoon session, as buying support was seen in interest sensitive stocks like automobiles, banks and capital goods.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) gained 126.45 points or 1.52 per cent, at 8,449.65 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 27,358.23 points, traded at 27,559.59 points (2.30 p.m.) — up 432.69 points or 1.60 per cent from the previous close at 27,126.90 points.

The Sensex so far has touched a high of 27,622.73 points and a low of 27,358.23 points.

The BSE market breadth was skewed in favour of the bulls — with 1,735 advances and 945 declines.

On Monday, the benchmark indices opened on a high note, in-sync with their Asian peers.

Dhruv Desai, Director and Chief Operating Officer of Tradebulls, elaborated that Nifty opened on a firm note due to strong buying sentiments and positive global cues.

“Banking, pharma and automobile sector stocks traded firm on fresh buying sentiments,” Desai noted.

According to Nitasha Shankar, Senior Vice President for Research with YES Securities, broader markets traded in the positive territory, but they underperformed the headline indices.

“Midcap and smallcap indices were up by 1.30 per cent each, while Nifty index was up by 1.70 per cent,” Shankar noted.

“All major sectoral indices traded in the green.”



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