Value buying, positive cues buoy equity markets

Mumbai, Sep 8 (IANS) Value buying at lower levels, healthy quarterly results, consistent buying by foreign funds and a rise in global crude oil prices buoyed the Indian equity markets on Thursday.

Both the key indices provisionally closed the day’s trade in the green as healthy buying was witnessed in stocks of healthcare, automobile and consumer durables.

However, gains were capped due to profit booking at higher levels and caution ahead of a key global financial event.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged up 34.55 points or 0.39 per cent to 8,952.50 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,929.46 points, provisionally closed at 29,052.22 points (at 3.30 p.m.) — up 125.86 points or 0.44 per cent from the previous close at 28,926.36 points.

The Sensex touched a high of 29,077.28 points and a low of 28,854.56 points during the intra-day trade.

The BSE market breadth was tilted in favour of the bulls — with 1,593 advances and 1,163 declines.

On Wednesday, both the key Indian indices closed flat due to profit booking and caution on the eve of the ECB (European Central Bank) meet.

The barometer index had edged down by 51.66 points or 0.18 per cent, while the NSE Nifty slipped by 25.05 points or 0.28 per cent.

–IANS

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