Value buying, global cues lift key equity indices over 1%

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Mumbai, June 29 (IANS) Breaking the two-day losing streak, the key Indian equity indices closed with substantial gains on Friday. Both the BSE Sensex and NSE Nifty50 ended one per cent higher from their previous closing levels.

The indices rose due to value buying along with broadly positive global cues, according to market observers.

In the domestic market, they said, healthy buying activity was witnessed in consumer durables, capital goods and oil and gas stocks.

At 3.30 p.m., the broader Nifty50 of the National Stock Exchange (NSE) provisionally closed at 10,714.30 points — up by 125.20 points or 1.18 per cent — from its previous close of 10,589.10 points.

The barometer 30-scrip Sensex on the BSE, which had opened at 35,128.16 points, closed at 35,423.48 points — higher by 385.84 points or 1.10 per cent — from its previous session’s close of 35,037.64 points.

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Sensex touched a high of 35,459.05 points and a low of 35,099.65 points during the intra-day trade. The BSE market breadth was bullish with 1,840 advances and 746 declines.

The top gainers on the Sensex were Tata Steel, Reliance Industries, Yes Bank, Larsen and Toubro (L&T) and Bajaj Auto whereas Hero MotoCorp, IndusInd Bank, Mahindra and Mahindra, HDFC Bank and Asian Paints were the major losers.

On the NSE, Hindalco Industries, Gail and Titan were the highest gainers while IndusInd Bank, Dr Reddy’s Lab and Tech Mahindra lost the most.

–IANS

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