Positive global cues push equity markets higher

Mumbai, May 20 (IANS) Positive global indices, along with higher crude oil prices and value buying, pushed the Indian equity markets higher on Friday.

This led to the key indices to trade marginally in the green, as healthy buying was witnessed in automobile, fast moving consumer goods (FMCG) and consumer durables stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) inched up by 13.60 points or 0.17 percent, at 7,797 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 25,428.42 points, traded at 25,453.84 points (2.00 p.m.) — up 54.12 points or 0.21 percent from the previous day’s close at 25,399.72 points.

The Sensex has touched a high of 25,506.06 points and a low of 25,379.75 points in the trade so far.

The BSE market breadth was tilted in favour of the bears with 1,387 declines and 1,031 advances.

Both the key indices had ended on a lower note during the previous trade session on Thursday due to negative global cues, profit booking and a fall in crude oil prices.

The barometer index during the previous trade session had plunged by 305 points or 1.19 percent, while the NSE Nifty declined by 87 points or 1.10 percent.

–IANS

rv/vt

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