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.