Equities buoy on hopes of healthy Q3 results

Mumbai, Jan 19 (IANS) Indian equities markets traded in the positive territory during the mid-afternoon trade session on Thursday as hopes of healthy third-quarter (Q3) results buoyed investors’ sentiments.

However, profit booking and a weakened rupee, coupled with caution ahead of the European Central Bank’s policy meet, capped gains.

The key indices traded in the green, as healthy buying was witnessed in oil and gas, consumer durables and automobile stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) rose by 13.10 points or 0.16 per cent, to 8,430.10 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 27,253.34 points, traded at 27,321.35 points (at 1.30 p.m.) — up 63.71 points or 0.23 per cent from the previous close at 27,257.64 points.

The Sensex has touched a high of 27,346.35 points and a low of 27,219.89 points during the intra-day trade so far.

The BSE market breadth was tilted in favour of the bulls — with 1,392 advances and 1,142 declines.

According to Dhruv Desai, Director and Chief Operating Officer of Tradebulls, the markets gave up almost all of its morning gains on the back of weakness from overseas markets and strength in the US dollar.

“Almost all the sectors traded in the negative, however index heavyweight like Gail helped the market to stay in the positive zone,” Desai said.

“The Nifty also witnessed some profit booking, with the strength in the US dollar capping the market on the upside.”

On Wednesday, broadly positive global indices and inflow of foreign funds buoyed the benchmark indices.

The NSE Nifty rose by 19 points or 0.23 per cent, to 8,417 points, while the BSE Sensex was up 21.98 points or 0.08 per cent.