Positive global markets, short covering lift equity markets

equity-marketsMumbai, (IANS) Positive global indices, coupled with value buying, short covering and a strengthening rupee, lifted the Indian equity markets on Thursday — a day after global and domestic cues had heavily dented investors’ buying sentiments.

The key indices provisionally closed with gains of around one per cent each, as healthy buying was witnessed in banking, metal and capital goods stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) surged by 149.05 points or 1.77 per cent, to 8,581.05 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 27,605.05 points, provisionally closed at 27,517.68 points (at 3.30 p.m.) — up 265.15 points or 0.97 per cent, from its previous close at 27,252.53 points.

The Sensex touched a high of 27,743.46 points and a low of 27,457.05 points during the intra-day trade.

The BSE market breadth was skewed in favour of the bulls — with 2,011 advances and 736 declines.

On Wednesday, the key Indian indices reacted adversely to the victory of Republican candidate Donald Trump in the US presidential election and the union government’s decision to demonetise Rs 500 and Rs 1,000 currency notes.

The barometer index then plunged by 338.61 points, or 1.23 per cent, and the Nifty had dropped by 111.55 points, or 1.31 per cent.

Medaram Jathara

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