Value buying buoys equity markets

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Mumbai, May 5 (IANS) Value buying, along with expectations that key economic legislation will get parliamentary approval, buoyed the Indian equity markets on Thursday.

This led to key indices of the Indian equity markets provisionally closing the day’s trade with substantial gains. The rise in equity markets was seen after three consecutive sessions of losses.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged higher by 30 points, or 0.38 percent, at 7,735.50 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 25,187.66 points, provisionally closed at 25,262.21 points (at 3.30 p.m.) — up 160.48 points or 0.64 percent from the previous close at 25,101.73 points.

The Sensex touched a high of 25,394.10 points and a low of 25,162.94 points during the intra-day trade.

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In contrast, the BSE market breadth was tilted in favour of the bears — with 1,321 declines and 1,232 advances.

Both the key Indian indices ended in the negative territory during the previous trade session on Wednesday. The barometer index had declined by 127.97 points or 0.51 percent.

Similarly, the NSE Nifty had closed lower by 40.45 points or 0.52 percent.



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