Value buying lifts equity markets

Mumbai, Dec 5 (IANS) A spurt of value buying, along with positive European markets and expectation of domestic monetary policy easing, lifted the Indian equity markets during the mid-afternoon trade session on Monday.

The key Indian indices gained around half a per cent each, as healthy buying was witnessed in automobile, banking and metal stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged up by 50.95 points or 0.63 per cent to 8137.75 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 26,253.48 points, traded at 26,369.52 points (at 2.30 p.m.) — up 138.86 points or 0.53 per cent from the previous close at 26,230.66 points.

The Sensex has touched a high of 26,390.80 points and a low of 26,125.35 points during the intra-day trade so far.

The BSE market breadth was tilted in favour of the bulls — with 1,439 advances and 1,066 declines.

On Friday, the equity markets closed in the red on the back of negative global indices, along with caution ahead of US non-farm payrolls data and profit booking.

The barometer index was down by 329.26 points or 1.24 per cent, while the NSE Nifty slipped by 106.10 points or 1.30 per cent.

–IANS

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