Value buying lifts equity markets (Third Lead)

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Mumbai, May 9 (IANS) Value buying, along with expectations that key economic legislation will get parliamentary approval, propelled the Indian equity markets on Monday.

Consequently, the Indian equity markets provisionally closed the day’s trade with substantial gains. Healthy buying was observed in interest rate-sensitive stocks like banks, auto and capital goods.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged up by 132.60 points, or 1.71 percent, at 7,866.05 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 25,321.83 points, provisionally closed the day’s trade at 25,688.86 points (at 3.30 p.m.) — up 460.36 points or 1.82 percent from the previous close at 25,228.50 points.

The Sensex touched a high of 25,709.68 points and a low of 25,302.86 points during the intra-day trade.

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The BSE market breadth was tilted in favour of the bulls — with 1,665 advances and 975 declines.

Both the key Indian indices had ended on a flat-to-negative note on Friday. The barometer index had lost 33.71 points or 0.13 percent, while the NSE Nifty had closed lower by 2.05 points or 0.03 percent.



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