Short-covering buoys Indian equity markets (Third Lead)

Mumbai, March 30 (IANS) Short-covering ahead of derivatives expiry, coupled with lessened chances of a US rate hike and a recent economic reform buoyed the Indian equity markets on Wednesday.

Consequently, the barometer 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) provisionally closed the day’s trade with healthy gains.

The Sensex, which opened at 25,062.06 points, provisionally closed at 25,338.58 points (at 3.30 p.m.) — up 438.12 points or 1.76 percent from the previous day’s close at 24,900.46 points.

Similarly, the wider 50-scrip Nifty of the National Stock Exchange (NSE) ended the day’s trade in the positive territory. It edged higher by 138 points or 1.81 percent, at 7,734.75 points.

During the intra-day trade, the Sensex touched a high of 25,358.84 points and a low of 25,055.42 points.

The BSE market breadth favoured the bulls – with 1,868 advances and 758 declines.

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