Value buying, positive global cues lift equity markets

Mumbai, Oct 18 (IANS) Value buying, coupled with broadly positive global indices and a strengthened rupee lifted the Indian equity markets on Tuesday.

Besides, higher global crude oil prices and hopes of healthy quarterly results supported the key indices’ upward movement.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) gained 157.50 points or 1.85 per cent to 8,677.90 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 27,656.89 points, provisionally closed at 28,050.88 points — up 520.91 points or 1.89 per cent from the previous close at 27,529.97 points.

The Sensex touched a high of 28,064.39 points and a low of 27,652.76 points during the intra-day trade.

The BSE market breadth was firmly in favour of the bulls — with 1,886 advances and 946 declines.

On Monday, the Indian equity markets closed in the red due to lower earnings guidance from IT majors, along with heightened chances of a US rate hike and outflow of foreign funds.

The barometer index had declined by 143.63 points or 0.52 per cent to 27,529.97 points, while the NSE Nifty closed lower by 63 points or 0.73 per cent to 8,520.40 points.

–IANS

rv//vt

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