Positive global cues lift equity markets (Third Lead)

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

Consequently, the key indices provisionally closed the day’s trade on a high note, with healthy buying witnessed in banking, metal and automobile stocks. Both indices reached their new 11-month high levels during the intra-day trade.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) gained by 53.15 points or 0.63 per cent to 8,521.05 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 27,667.81 points, provisionally closed at 27,808.14 points (at 3.30 p.m.) — up 181.45 points or 0.66 per cent from the previous close at 27,626.69 points.

The Sensex touched a high of 27,828.74 points and a low of 27,667.81 points during the intra-day trade.

In contrast, the BSE market breadth was tilted in favour of the bears — with 1,520 declines and 1,239 advances.

Both indices ended in the positive territory during the previous trade session on Monday to reach their new closing highs in the last 11 months.

The barometer index on Monday 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.



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