Short-covering rally buoys markets, Sensex up 279 points

Mumbai, Feb 5 (IANS) Short-coverings and lower level value-buying buoyed the Indian equity markets on Friday.

Consequently, the barometer 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) provisionally gained 279 points — or 1.14 percent — at the closing.

Similarly, the wider 50-scrip Nifty of the National Stock Exchange (NSE) ended the day’s trade in the positive territory. It edged-up by 85.10 points, or 1.15 percent, at 7,489.10 points.

The S&P BSE Sensex, which opened at 24,360.36 points, provisionally closed at 24,616.97 points (at 3.30 p.m.) — up 278.54 points or 1.14 percent from the previous day’s close at 24,338.43 points.

It touched a high of 24,672.90 points and a low of 24,345.79 points during the intra-day trade.

The S&P BSE market breadth favoured the bulls — with 1,619 advances and 1,016 declines.

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