Value buying buoys markets; Sensex up 75 points (Third Lead)

Mumbai, Dec 29 (IANS) Value buying coupled with positive global cues and expectations of more reforms by the government marginally buoyed the Indian equity markets on Tuesday.

This led to a barometer index of the Indian equity markets provisionally closing the day’s trade up 75 points, or 0.29 percent.

Initially, both the bellwether indices of the Indian equity markets rose in sync with their Asian peers.

In addition, the markets maintained their Monday’s gains which were made on the back of Prime Minister Narendra Modi’s new initiative of “Start-up India Stand-up India” which has been lined up for next month’s launch.

However, markets soon ceded their gains, as lack of investors’ participation and absence of any triggers depressed sentiments and prompted some investors to book profits.

Latest data with the stock exchanges showed that the volumes in cash markets across key bellwether indices eased to Rs.16,000 crore in the last couple of trading sessions.

Besides, investors were seen cautious regarding the upcoming third-quarter earnings season.

Nevertheless, positive European markets and value buying at lower levels again rose prices.

The barometer 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) ended the day’s trade up by 75 points, or 0.29 percent.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) closed flat. It was marginally higher by 4.00 points, or 0.05 percent, at 7,928.95 points.

The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 26,075.68 points, provisionally closed at 26,109.51 points (at 3.30 p.m.) — up 75.38 points, or 0.29 percent from the previous day’s close at 26,034.13 points.

The Sensex touched a high of 26,133.78 points and a low of 25,994.45 points during the intra-day trade.

The Sensex had closed the previous session on December 28 with gains of over 195 points, or 0.76 percent, while the Nifty was higher by 64.10 points, or 0.82 percent.

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