Short-covering, strengthened rupee buoy Indian equities

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Mumbai, Dec 29 (IANS) Short-covering and value buying on the back of futures and options (F&O) expiry, and a rupee appreciation buoyed the Indian equity markets on Thursday.

The key indices provisionally closed with gains of more than half a per cent each as healthy buying was witnessed in automobile, oil and gas, and consumer durables stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) gained 68.75 points or 0.86 per cent to 8,103.60 points.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 26,429.41 points, provisionally closed at 26,366.15 points (at 3.30 p.m.) — up 155.47 points or 0.59 per cent from the previous day’s close at 26,210.68 points.

The Sensex touched a high of 26,429.63 points and a low of 26,166.67 points during the intra-day trade.

The BSE market breadth was tilted in favour of the bulls — with 1,647 advances and 906 declines.

On Wednesday, the equity markets had closed on a flat note on the back of profit booking ahead of derivatives expiry and outflow of foreign funds.

The barometer index was down a tad 2.76 points or 0.01 per cent, whereas the NSE Nifty inched up by 2.00 points or 0.02 per cent.

–IANS

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