Value buying buoys equities; banks, auto stocks up

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Mumbai, March 26 (IANS) Value buying buoyed the key Indian equity indices during the mid-afternoon trade session on Monday, even as caution prevailed on the prospects of escalating trade wars between major world economies.

According to market observers, healthy buying was observed in banking, consumer durables and auto stocks.

The Nifty50 of the National Stock Exchange (NSE) reclaimed the 10,000-mark and rose by 15.35 points or 0.15 per cent to trade at 10,013.40 points (around 1.10 p.m.).

The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 32,536.44 points, traded at 32,696.96 points — up 100.42 points or 0.31 per cent from the previous session’s close.

The Sensex has so far touched a high of 32,716.19 points and a low of 32,515.17 during the intra-day trade.

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However, the BSE market breadth was bearish with 1,640 declines and 913 advances.

On Friday, the equity indices receded to their five-month low levels as investors got spooked after major world economies imposed new trade protectionist measures.

The Nifty50 closed below the 10,000-points-level, declining by 116.70 points or 1.15 per cent at 9,998.05 points, while the BSE Sensex closed at 32,596.54 points — down 409.73 points or 1.24 per cent.

–IANS

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