Value buying, rupee appreciation lift equity markets

Mumbai, Nov 25 (IANS) Short covering, along with value buying and rupee appreciation, lifted the Indian equities markets on Friday.

The key Indian indices provisionally closed the day’s trade in the green — with gains of more than 1.5 per cent each, as healthy buying was witnessed in IT, healthcare and banking stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) gained 148.80 points or 1.87 per cent to 8,075.65 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 25,953.24 points, provisionally closed at 26,316.34 points (at 3.30 p.m.) — up 456.17 points or 1.76 per cent from the previous close at 25,860.17 points.

The Sensex touched a high of 26,343.95 points and a low of 25,874.45 points during the intra-day trade.

The BSE market breadth was skewed in favour of the bulls — with 2,030 advances and 595 declines.

On Thursday, the equity markets closed in the red on the back of a massive rupee depreciation, continued outflow of foreign funds and subdued derivatives expiry roll-overs

The barometer index was down by 191.64 points or 0.74 per cent, while the NSE Nifty receded by 67.80 points or 0.84 per cent.