Positive global cues, healthy buying lift Indian equities

Mumbai, Feb 22 (IANS) Positive Asian indices, coupled with a marginally strong rupee and healthy buying in the oil and gas sector, lifted the Indian equities markets during the mid-afternoon trade session on Wednesday.

However, caution prevailed ahead of derivatives expiry which will take place on Thursday, February 23.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) rose by 21.20 points or 0.24 per cent to 8,929.05 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,822.40 points, traded at 28,873.82 points (at 1.45 p.m.) — up 112.23 points or 0.39 per cent, from the previous close at 28,761.59 points.

The Sensex has so far touched a high of 28,963.52 points and a low of 28,789.30 points during the intra-day trade.

In contrast, the BSE market breadth was tilted in favour of the bears — with 1,090 advances and 1,602 declines.

On Tuesday, the benchmark indices touched their new closing highs of 2017 on the back of an announcement of a share buy-back by IT major Tata Consultancy Services (TCS) and healthy buying support in the banking sector.

The NSE Nifty rose by 28.65 points or 0.32 per cent to close at 8,907.85 points, and the BSE Sensex was up 100.01 points or 0.35 per cent at 28,761.59 points.